The Chart of Accounts for the Miguel Company Includes the Following

question 2

Multiple Choice

The chart of accounts for the Miguel Company includes the following: ​
Page 5 of the journal contains the following transaction:
​
What is the posting reference that will be found in the salaries expense account?

• A) 5
• B) 11
• C) 54
• D) 21

---

Definitions:

Compounded Annually

refers to the process where interest earned on an investment is added to the principal sum at the end of each year, with each subsequent interest calculation based on the previous year's total.

Stereo

A system for reproducing sound that uses two or more independent audio channels to create a sense of location and fullness.

Invest

Deploying resources, specifically money, with the target of income or profit realization.

One-time Payment

A single financial transaction, often made for a specific purpose or to settle a liability.