A Company Reported the Following Information How Much Cash Was Paid for Salaries During 2014?
A)$60,000

question 36

Multiple Choice

A company reported the following information: $\begin{array}{ll} \text {Salaries payable, December 31,2014 } &\$ 20,000 \\ \text { Salaries payable, December 31, 2013 } &15,000 \\ \text { Salaries expense for 2014 } &80,000\end{array}$ How much cash was paid for salaries during 2014?

• A)$60,000
• B)$65,000
• C)$75,000
• D)$85,000

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Definitions:

Unit Price

The total price of a package divided by the number of items that comprise the package.

Purchase Price

The amount of money paid to buy goods or services.

Ordering Supplies

The process of requesting and acquiring necessary materials or stock for business operations, production, or office maintenance.

Large Demand

A significant consumer interest or need for a product or service which often leads to high sales volume.