QUESTION 11 What is the adjusting entry for accrued revenues? O A. Debit:...
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QUESTION 11 What is the adjusting entry for accrued revenues? O A. Debit: Revenues; Credit: Liabilities. O B. Debit: Revenues; Credit: Assets. OC. Debit: Liabilities; Credit: Expenses. OD. Debit: Assets; Credit: Revenues. QUESTION 12 Khalid Company's employees are paid a total of $3,200 per day for a 5-day workweek. The workweek starts on Sunday and ends on Thursday. The employees are paid each Thursday. The accounting period ends on Wednesday. What is the correct adjusting entry at year end for this transaction? O A. Debit: Salaries Expense $12,800; Credit: Salaries Payable $12,800. B. Debit: Salaries Expense $16,000; Credit: Salaries Payable $16,000. OC. Debit: Salaries Payable $12,800; Credit: Cash $12,800. OD. Debit: Salaries Payable $16,000: Credit: Cash $16,000
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