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Penman Corporation Showed Salaries and Wages Expense of $488,000 on Its

Question 18

Multiple Choice

Penman Corporation showed Salaries and Wages Expense of $488,000 on its income statement.If the Salaries and Wages Payable account was $54,000 at the beginning of the year and $37,000 at the end of the year,how much cash was paid to employees?


A) $434,000
B) $451,000
C) $505,000
D) $471,000

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