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What amount Sheridan report for accrued salaries payable

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Question - Sheridan Company's salaried employees are paid biweekly. Occasionally, advances made to employees are paid back by payroll deductions. Information relating to salaries for the calendar year 2021 is as follows:

12/31/20 12/31/21

Employee advances $ 24000 $ 37000

Accrued salaries payable 162000 ?

Salaries expense during the year 1420000

Salaries paid during the year (gross) 1250000

At December 31, 2021, what amount should Sheridan report for accrued salaries payable?

a. $125000.

b. $175000.

c. $332000.

d. $170000.

Reference no: EM132671801

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