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On December 31, 2019, Ricks Caf made an adjusting entry to record $7,000 of accrued...

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Accounting

On December 31, 2019, Ricks Caf made an adjusting entry to record $7,000 of accrued salaries. The next payment of salaries on January 4, 2020 was $10,000. Related to these transactions only:

  1. The salaries expense charged to 2019 will be $3,000
  2. The entry on January 4 will include a $3,000 credit to Cash
  3. The salaries expense charged to 2020 will be $3,000
  4. The salaries expense charged to 2020 will be $10,000

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