Use This Information to Answer the Following Question

question 53

Multiple Choice

Use this information to answer the following question. Baker Company has the following information for the pay period of January 1-15.Payment occurs on January 20.
The entry on January 20 would be a debit to

• A) Salaries Payable and a credit to Cash.
• B) Salaries Payable and a credit to Salaries Expense.
• C) Salaries Expense and a credit to Cash.
• D) Salaries Expense and a credit to Salaries Payable.

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Definitions:

Rule of Reason

A legal doctrine used to determine if a business practice is anticompetitive under antitrust laws.

Relevant Market

The market in which a particular product or service competes, considering both geographic reach and product or service interchangeability.

European Union

A political and economic union of 27 European countries that are located primarily in Europe.

Antitrust

Laws and regulations designed to promote competition and prevent monopolies or unfair business practices that harm consumers or the market.