If at the End of the Year the Firm Owes

question 64

Multiple Choice

If at the end of the year the firm owes a balance for workers' compensation insurance,the adjusting entry includes a

• A) debit to Workers' Compensation Insurance Payable a credit to Workers' Compensation Insurance Expense.
• B) a debit to Workers' Compensation Refund Receivable and a credit to Workers' Compensation Insurance Expense.
• C) a debit to Workers' Compensation Insurance Expense and a credit to Workers' Compensation Insurance Payable.
• D) a debit to Payroll Taxes Expense and a credit to cash.

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Definitions:

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