A company reported the following amounts of wages payable at the beginning and the end of the year 2010:
Wages payable, January 1, 2010 $750
Wages payable, December 31, 2010 $2,500
The income statement for 2010 reported Wages Expense of $56,200. How much cash was paid for wages during 2010?
A) $52,950
B) $56,200
C) $54,450
D) $53,700
Correct Answer:
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