Question

Salary Payable at the beginning of the month totals $24,000. During the​ month, salaries of $128,000 were accrued as expense. If ending Salary Payable is $14,000, what amount of cash did the company pay for salaries during the​ month?

Answer 1

118000

Explanation:

cash out flow = beg balance - end balance

= 24 -14 =10K

128K - 10K =118K

actual pay out is 118K