Schneider Inc. had salaries payable of $60,000 and $90,000 at the end of 2008 and 2009, respectively. During 2009, Schneider recorded $620,000 in salaries expense in its income statement. Cash outflows for salaries in 2009 were:
A) $590,000.
B) $620,000.
C) $650,000.
D) $530,000.$620,000 $30,000 increase in salaries payable = $590,000.
Correct Answer:
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