Question
On April 2, the salaried employees of LaSalle Company receive their paychecks representing 8 workdays in March and 2 days in April for a total
On April 2, the salaried employees of LaSalle Company receive their paychecks representing 8 workdays in March and 2 days in April for a total gross pay of $ 23,000. Other expenditures paid in April include advertising from March of $ 850 and property taxes for the first quarter of the year of $ 5,700. Property taxes for the second quarter are also expected to be $ 5,700. The company's vehicle was repaired on April 1 for an amount of $ 480 to be paid May 1. What are the expenses for April under the cash accounting method and what would they be under accrual basis accounting?
A.$ 18,400 under the cash basis; $ 18,880 under accrual basis
B.$ 29,550 under cash basis and $ 6,980 under accrual basis accounting
C.$ 23,000 under the cash basis; $ 7,030 under the accrual basis
D.$ 29,550 under both cash and accrual basis
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