Use the Following Information to Calculate Cash Paid for Salaries

question 163

Multiple Choice

Use the following information to calculate cash paid for salaries: $\begin{array}{|l|r|}\hline \text { Salaries expense } & \$ 79,000 \\\hline \text { Salaries payable, January 1 } & 6,400 \\\hline \text { Salaries payable, December } 31 & 3,320\\\hline\end{array}$

• A)$75,680
• B)$82,080
• C)$79,000
• D)$85,400
• E)$82,320

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Definitions:

Equilibrium Interest Rate

The interest rate at which the quantity of loanable funds demanded equals the quantity supplied, leading to a balance in the money market.

Equilibrium Level Of Saving

The point at which the amount households save equals the amount they invest, resulting in a balance within the economy's financial resources.

U.S. Government Debt

The total amount of money that the United States federal government owes to creditors, including both public debt and intra-governmental obligations.

Budget Deficit

An economic situation where a government's expenditures exceed its revenue over a specified period of time, leading to borrowing or money printing.