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Salaries Payable. At year-end, salaries expense of $20,000 has been incurred by the company, but is not yet paid to employees. Interest Payable. At its
Salaries Payable. At year-end, salaries expense of $20,000 has been incurred by the company, but is not yet paid to employees. Interest Payable. At its December 31 year-end, the company owes $475 of interest on a line-of-credit loan. That interest will not be paid until sometime in January of the next year. Interest Payable. At its December 31 year-end, the company holds a mortgage payable that has incurred $1,100 in annual interest that is neither recorded nor paid. The company intends to pay the interest on January 7 of the next year
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