Vaughn Manufacturingpaid or collected during 2017 the following items: Insurance premiums paid $30700 Interest collected 70200...

Vaughn Manufacturingpaid or collected during 2017 the following items: Insurance premiums paid $30700 Interest collected 70200 Salaries paid 280600 The following balances have been excerpted from Vaughn's balance sheets: December 31, 2017 December 31, 2016 Prepaid insurance $2320 $2860 Interest receivable 7180 5720 Salaries and wages payable 24500 21500 Salaries and wages expense on the income statement for 2017 was $234600. $277600. $283600. $326600.

Expert Solution

Salaries and wages expense = Salaries paid+Increase salaries and wages payable

= 280600+(24500-21500)

Salaries and wages expense = 283600

So answer is c) $283600

ekkarill92 answered 2 years ago

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