Morton & Associates Use the Following Five Transactions for Morton

question 7

Multiple Choice

Morton & Associates Use the following five transactions for Morton & Associates,Inc.to answer the question(s) .
See the transactions to Morton & Associates.
The journal entry to record the May 23 transaction will include a credit of $430 to

• A)Salaries Expense
• B)Cash
• C)Prepaid Expenses
• D)Accounts Payable

Recognize the role of economic systems and policies in creating work-related poverty.

Understand the historical developments leading to modern capitalism and its effects.

Identify the effects of minimum-wage legislation on poverty.

Understand the impact of social and political theories on class consciousness and social change.

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Definitions:

Legal Remedy

The means by which a court of law enforces a right, imposes a penalty, or makes another court order to impose its will.

Compensatory Damages

Monetary compensation awarded to a plaintiff to offset losses or injuries that have been incurred due to the defendant's actions.

Breaches

Violations or failures to perform as required or promised in a contract or agreement.

Contract

A legally enforceable agreement between two or more parties that creates mutual obligations enforceable by law.