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38) Salaries are $5,000 per week for five working days and are paid weekly at the end of the day on 38) Fridays. The end

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38) Salaries are $5,000 per week for five working days and are paid weekly at the end of the day on 38) Fridays. The end of the month falls on a Thursday. The accountant for Sunset, Inc. made the appropriate accrual adjustment and posted it to the ledger. The balance of Salaries Payable, as shown on the adjusted trial balance, will be a(Assume that there was no balance in the Salaries Payable account.) beginning F) debit balance of $1,000 H) debit balance of $4,000 G) credit balance of $1,000 J) credit balance of $4,000 39) At the time the transaction occurred, which of the following would result in an increase in net 39) income under the accrual basis of accounting, but would not result in an increase in net income under cash basis accounting? A) performance of services on account B) purchase of supplies for cash C) use of supplies purchased earlier D) receipt of cash for services that were performed earlier on account

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