Use the Following Information to Answer the Following Questions

question 9

Multiple Choice

Use the following information to answer the following questions. The following totals for the month of April were taken from the payroll register of Magnum Company.
The journal entry to record the monthly payroll on April 30 would include a

• A) credit to Salaries Payable for $8,150
• B) debit to Salaries Expense for $7,902
• C) debit to Salaries Payable for $8,150
• D) debit to Salaries Payable for $7,902

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Definitions:

Domestic Price

The price of goods or services within a country's borders, not influenced by international prices.

Imported Shoes

Footwear that is produced abroad and brought into a country for sale.

Chinese Imports

Goods or services brought into a country from China for sale.

U.S. Producers

U.S. Producers refer to individuals or entities engaged in the creation or manufacturing of goods and services within the United States.