The Sales Wage Expense Would Be Used to Record

question 23

Multiple Choice

The Sales Wage Expense would be used to record:

• A) Net pay for sales personnel
• B) A holding account for wages due and payable
• C) Gross Pay for Sales Personnel
• D) Deductions for Sales Personnel

---

Definitions:

GAAP

Generally Accepted Accounting Principles, which are a set of accounting standards and practices used to prepare financial statements.

Financial Instruments

Contracts that give rise to both a financial asset of one entity and a financial liability or equity instrument of another entity.

Discounted Note

A promissory note that is sold or issued for less than its face value and upon maturity pays out its full face value, effectively generating interest for the holder.