Multiple Choice
Danielsen Inc. had salaries payable of $70,000 as of January 1 and $30,000 as of December 31. During the year, Danielsen showed $550,000 in salaries expense on the income statement. Cash outflows for salaries for the year were ________.
A) $510,000
B) $550,000
C) $590,000
D) $620,000
Correct Answer:
Verified
Correct Answer:
Verified
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