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D Question 17 3 pts During the year, Interior Lighting Corp. paid and recorded salaries of $24,000. In addition, $8,000 in salaries has been earned
D Question 17 3 pts During the year, Interior Lighting Corp. paid and recorded salaries of $24,000. In addition, $8,000 in salaries has been earned by the managers at the end of the year but has not been paid or recorded. The salaries payable account balance is zero before adjustment. The year-end adjusting entry would include which one of the following? o Credit to Salaries Expense of $8,000 Debit to Salaries Expense for $32,000 Debit to Salaries Payable for $24,000 O Credit to Salarles Payable for $8,000 Question 18 3 pts On September 26, 2019, Basin Corp paid $42,000 for one year's rent on its headquarters building. starting on October 1, 2019. Basin records adjusting journal entries annually on its year-end date. On its 12/31/2019 year-end) financial statements, Basin Corp should report Rent Expense of $7,000 on the Balance Sheet and Prepaid Rent of $35,000 on the Income Statement Prepaid Rent of $42,000 on the Balance Sheet and Rent Expense of $0 on the Income Statement . Prepaid Rent of $31,500 on the Balance Sheet and Rent Expense of $10.500 on the Income Statement $0 on the Balance Prepaid Rent Shoot and Rent Expense of $42.000 on the Income Statement
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