A review of the accounting records of Thornton Manufacturing indicated that the company incurred the following payroll costs during the month of March. Assume the company's financial statements are prepared on an accrual basis. This means that the payroll costs should be recorded:
a) When the employees receive their paychecks. b) When the payroll taxes are paid. c) When the employees perform the work. d) When the company's financial statements are reviewed.
