Motor Repair Shop uses the accrual basis of accounting, and had the following account balances on its financial statements at December 31, 2014:
On January 1, there was a $0 balance in the salaries payable account. How much cash did Motor Repair pay for salaries during the year?

Question

Motor Repair Shop uses the accrual basis of accounting, and had the following account balances on its financial statements at December 31, 2014:
  On January 1, there was a $0 balance in the salaries payable account. How much cash did Motor Repair pay for salaries during the year?

Quizplus · Accepted Answer

The Answer of Motor Repair Shop uses the accrual basis of accounting, and had the following account balances on its financial statements at December 31, 2014:
  On January 1, there was a $0 balance in the salaries payable account. How much cash did Motor Repair pay for salaries during the year?

Motor Repair Shop Uses the Accrual Basis of Accounting, and Had