Question: Indicate which of the following events would result in recognizing

Indicate which of the following events would result in recognizing expenses for the year in which the described event takes place; give the journal entry. (Take the T-shirt company’s point of view.)
1. T-Shirts Plus, Inc., paid employees $6,000 for work performed during the prior year.
2. T-Shirts Plus, Inc., purchased 15,000 T-shirts for its inventory for $30,000 on account.
3. T-Shirts Plus, Inc., paid the factory cash for the 15,000 shirts purchased.




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  • CreatedSeptember 01, 2014
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