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Hoffman, Incorporated adjusts its books each month but closes its books at the end of the year. The companys unadjusted trial balance at March 31

Hoffman, Incorporated adjusts its books each month but closes its books at the end of the year. The companys unadjusted trial balance at March 31 is as follows: Debit Credit Cash $ 11,050 Accounts Receivable 9,750 Supplies 1,430 Prepaid Insurance 3,000 Equipment 25,200 Accumulated Depreciation: Equipment $ 10,080 Unearned Service Revenue 7,150 Capital Stock 5,850 Retained Earnings 24,050 Dividends 1,690 Service Revenue Earned 15,910 Salaries Expense 8,450 Utilities Expense 520 Rent Expense 1,950 Totals $ 63,040 $ 63,040 Employees are owed $880 for services since the last payday in March, to be paid the first week in April. The amount to be reported in the March income statement for salaries expense is: Multiple Choice $8,450 $880 $9,330 $7,570

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