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Hoffman, Incorporated adjusts its books each month but closes its books at the end of the year. The company's unadjusted trial balance at March 31
Hoffman, Incorporated adjusts its books each month but closes its books at the end of the year. The company's unadjusted trial balance at March 31 is as follows: Credit Debit $ 10,970 9,670 1,350 3,320 28,800 Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accumulated Depreciation Equipment Unearned Service Revenue Capital Stock Retained Earnings Dividends Service Revenue Earned Salaries Expense Utilities Expense Rent Expense Totals $ 11,520 6,750 5,450 23,650 1,610 18,390 8,050 440 1,550 $ 65, 760 $ 65,760 Employees are owed $800 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 O $8,050 O $8,850 $7.250 O $800
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