Unformatted text preview: credit of $1400. Once the revising entry is made on Nov. 1 st the salaries payable account will have a zero balance because the debit entry of $1400 will be offset by the credit entry of $1400 on oct. 31 st . The salaries expense account will have a credit of $1400, because it was zeroed at the end of the month....
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- Spring '11
- Accountant, Generally Accepted Accounting Principles, Double-entry bookkeeping system, $1400