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Sagot :
Answer:
$590,700
Explanation:
We can determine the amount of Cash outflows for salaries in Year 2 by preparing a Salaries Payable T - Account.
Salaries Payable T - Account.
Debit
Ending Balance $90,700
Cash (Balancing figure) $590,700
Total $681,400
Credit
Beginning Balance $61,400
Income Statement $620,000
Total $681,400
thus,
Cash outflows for salaries in Year 2 were $590,700.
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