Flagg, inc. records adjusting entries at its december 31 year end. at december 31, employees had earned $9,200 of unpaid and unrecorded salaries. the next payday is january 3, at which time $23,000 will be paid. prepare the january 1 journal entry to reverse the effect of the december 31 salary expense accrual.

debit salaries expense $9,200; credit salaries payable $9,200.

debit salaries expense $13,800; debit salaries payable $9,200; credit cash $23,000.

debit salaries payable $13,800; credit cash $13,800.

debit salaries payable $9,200, credit salaries expense $9,200.

debit salaries expense $13,800; credit salaries payable $13,800.

Ashare stock is a small piece of ownership in a company ture or false

Neon light company of kansas city ships lamps and lighting appliances throughout the country. ms. neon has determined that through the establishment of local collection centers around the country, she can speed up the collection of payments by one and one-half days. furthermore, the cash management department of her bank has indicated to her that she can defer her payments on her accounts by one-half day without affecting suppliers. the bank has a remote disbursement center in florida. a. if neon light company has $2.90 million per day in collections and $1.18 million per day in disbursements, how many dollars will the cash management system free up?

Conor is 21 years old and just started working after college. he has opened a retirement account that pays 2.5% interest compounded monthly. he plans on making monthly deposits of $200. how much will he have in the account when he reaches 591 years of age?