Danielsen Inc

question 130

Multiple Choice

Danielsen Inc. had salaries payable of $70,000 as of January 1 and $30,000 as of December 31. During the year, Danielsen showed $550,000 in salaries expense on the income statement. Cash outflows for salaries for the year were ________.

• A) $510,000
• B) $550,000
• C) $590,000
• D) $620,000

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