A company is preparing a bank reconciliation of the bank account used exclusively for payroll. There are several outstanding checks over one year old that former employees have not cashed. The company has tried to locate these former employees but cannot. Since the company had credited the cash account when these payroll checks were originally issu

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A company is preparing a bank reconciliation of the bank account used exclusively for payroll. There are several outstanding checks over one year old that former employees have not cashed. The company has tried to locate these former employees but cannot. Since the company had credited the cash account when these payroll checks were originally issued, the company now wants to put these old checks back into cash by debiting the cash account. Which account should be credited? A. A liability account &#34;Unclaimed Wages&#34; B. Miscellaneous revenue C. Cash revenue D. Payroll revenue E. An asset account &#34;Old Payroll Checks&#34;

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