hard20 pts · first answer countspayroll-accounting

Accruing overtime after the cut-off

Payroll cut-off is the 20th. Approved overtime for 21 to 31 March is estimated at 1,20,000 and will be paid in April payroll. What should happen in the March books?

A.Accrue 1,20,000 as an expense and liability in MarchB.Record nothing until AprilC.Record it as an April expense when paidD.Record it as a prepaid expense

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Accruing overtime after the cut-off

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