On January 1, Wages Payable for Flagstaff Company equals $18,500. By the end of the current year, Wage Expense equals $345,000, and cash payments for wages were $353,200. What is the balance in the T-account, Wages Payable, on December 31?
a. $17,500
b. $8,200
c. $25,700
d. $10,300
Correct Answer:
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