Question

January 1:     The owners hire Nina Marton to manage the store, paying her a salary of $2,600 a month. Lisa is paid on the 1st of every month, starting on February 1 (which would represent her January pay). They have one other employee who they pay $1,700 a month, also on the 1^st of the following month. Employees work 40 hours a week.

What is the journal entry for the information above?

Answer 1

	Total salary cost for the month of January
	Lisa salary cost	$2,600
	Other employee cost	$1,700
	Total	$4,300
	Journal entries for the month end January
Date	Particulars	Debit	Credit
	Salary payable entry:
Jan-31	Salary expenses	$4,300
	Salary expenses payables		$4,300
	(Being salary expenses recorded)
	Salary payment entry:
Feb-01	Salary expenses payables	$4,300
	Cash		$4,300
	(Being salary expenses paid recorded)