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Homework answers / question archive / 11
11.The chart of accounts for the Miguel Company includes the following:
Account Name Account Number
Cash11
Accounts Receivable 13
Prepaid Insurance 15
Accounts Payable 21
Unearned Revenue 24
Common Stock 31
Dividends 32
Fees Earned 41
Salaries Expense 54
Rent Expense 56
Page 5 of the journal contains the following transaction:
Description Post. Ref. Debit Credit
Salaries Expense 525
Cash 525
2.The correct option is C "5". The posting reference that will be found in the salaries expense account is 5.
