Schneider Inc. had salaries payable of $60,000 and $90,000 at the end of 2017 and 2018, respectively. During 2018, Schneider recorded $620,000 in salaries expense in its income statement. Cash outflows for salaries in 2018 were:
A) $590,000.
B) $620,000.
C) $650,000.
D) $530,000.
Correct Answer:
Verified
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