The payroll register for the week ended April 15 for Ultimate Tanning Spa indicates gross earnings of 4,000 and total deductions of 1,200 . The journal entry for the payroll for this week would include which of the following credit amounts to Cash?
a. 1,200
b. 2,800
c. 4,000
d. 5,200
Question 2
Internal controls are ________.
A) laws and regulations imposed by the IRS and SEC to ensure the accuracy of financial statements
B) accounting procedures required by the FASB to ensure the accuracy and reliability of firms' accounting records
C) policies and procedures the managers of a firm use to protect a firm's assets and the accuracy of its accounting records
D) rules required by creditors to ensure repayment of liabilities
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