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On December 3, the Matador Company Paid $5,400 Cash in Salaries

question 80

Essay

On December 3, the Matador Company paid $5,400 cash in salaries to office personnel. Prepare the general journal entry to record this transaction.


Definitions:

Demand Schedule

A table that lists the quantity of a good or service that consumers are willing and able to purchase at various prices.

Marginal Cost

The cost upsurge due to the production of one extra unit of a product or service.

Marginal Revenue

The supplementary income generated through the sale of an additional unit of a good or service.

Demand Schedule

A table that shows the quantity of a good or service that consumers are willing and able to purchase at various prices.

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