Business, 18.03.2020 22:06 sippincoronas

Assume that the City of Juneau maintains its books and records to facilitate the preparation of its fund financial statements. The city pays its employees bi-weekly on Friday. The fiscal year ended on Wednesday, June 30. Employees had been paid on Friday, June 25. The employees paid from the general fund had earned $90,000 on Monday, Tuesday, and Wednesday (June 28, 29, and 30). What entry, if any, should be made in the city’s general fund on June 30? a) Debit Expenditures $90,000; credit Accrued wages and salary $90,000. b) Debit Expenses $90,000; credit Accrued wages and salary $90,000. c) Debit Expenditures $90,000; credit Encumbrances $90,000. d) Debit Expenses $90,000; credit Encumbrances $90,000.

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Assume that the City of Juneau maintains its books and records to facilitate the preparation of its...

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