Use the Information Below to Answer the Following Question(s)

question 116

Multiple Choice

Use the information below to answer the following question(s) .Copper Corporation has the following sales budget for the last six months of 2019:
Historically, the cash collection of sales has been as follows:

-Cash collections for September are

• A)$143,000.
• B)$161,400.
• C)$199,000.
• D)$204,000.
• E)$240,000.

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Definitions:

Accrue Employee Salaries

The process of recognizing the cost of salaries earned by employees but not yet paid to them.

Salaries Expense

An income statement item representing the total amount paid to employees in the form of salaries and wages during an accounting period.

Salaries Payable

A liability account that records the amount of salaries owed to employees but not yet paid.

Accrued Expenses

Expenses that have been incurred but not yet paid, recognized in the accounting period they are incurred, not when they are paid.