In January 2012, Stockman Company employees were paid the $10,000 owed them for work done in 2011.
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In January 2012, Stockman Company employees were paid the
$10,000 owed them for work done in 2011. This payment decreases the liability Accrued Salaries. The journal entry for this transaction is:
Dr. . . .
Cr. . . . . . . . . . . . . . . . . . . . . . .
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