The adjustment for accrued salaries would be to:

Group of answer choices

A. debit Salaries Expense; credit Salaries Payable.

B. debit Salaries Payable; credit Salaries Expense.

C. debit Salaries Expense; credit Cash.

D. debit Salaries Payable; credit Cash.

An account never used in an adjusting entry is:

A. Equipment.

B. Consulting Fees-Revenue.

C. Accumulated Depreciation - Equipment.

D. Interest Payable.

The physical count of inventory was incorrect, which overstated the ending inventory. This would cause:

A. operating expenses to be understated.

B. gross profit to be understated.

C. Cost of Goods Sold to be overstated.

D. Cost of Goods Sold to be understated.

Freight-in:

A. does not affect Cost of Goods Sold.

B. reduces the Cost of Goods Sold.

C. adds to the Cost of Goods Sold.

D. increases operating expenses.