Why not wait until payment to record the expense? In the end, the result will be the same.” 1 answer below »
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(Learning Objective 1, 2: Applying accounting principles) As the controller of Avon Systems, you have hired a new employee, whom you must train. He objects to making an adjusting entry for accrued salaries at the end of the period. He reasons, “We will pay the salaries soon. Why not wait until payment to record the expense? In the end, the result will be the same.” Write a reply to explain to the employee why the adjusting entry is needed for accrued salary expense.
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