Question 16 Peng Inc. is a service firm that formed in November of 2014. During December 2014, Peng's employees earned $12,500 in salaries which were paid in January 2015. Also in December 2014. Peng's employees were paid $6,000 in salaries that had been earned and recorded in November 2014. According to Generally Accepted Accounting Principles, how much salary expense should Peng record for the month of December 2014? Question 15 5 Peng Inc. is a service firm that formed in November of 2014. In December 2014, Peng provided services and billed the clients $22,000 for these services. These clients paid $14,000 in Decembe 2014 and $8,000 in January 2015. In addition, Peng collected $12,000 in December 2014 for services to be provided to clients in January 2015. According to Generally Accepted Accounting Principles, how much revenue should Peng recor the month of December 2014