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Doren Co.'s officers' compensation expense account had a balance of $490,000 at December 31, 20X4, before any appropriate year-end adjustment relating to the following: No
Doren Co.'s officers' compensation expense account had a balance of $490,000 at December 31, 20X4, before any appropriate year-end adjustment relating to the following: No Salary accrual was made for the week of December 25-31, 20X4. Officers' salaries for this period totaled $18,000 and were paid on January 5, 20X5. Bonuses to officers for 20X4 were paid on January 31, 20X5 in the total amount of $175,000. The adjusted balance for accounts payable for the year ended December 31, 20X4 should be?
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