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Exercise 3-2 Adjusting and paying accrued wages LO P3 Pablo Management has five employees, each of...

Question:

Exercise 3-2 Adjusting and paying accrued wages LO P3 Pablo Management has five employees, each of whom earns $250 per day. T
Exercise 3-2 Adjusting and paying accrued wages LO P3 Pablo Management has five employees, each of whom earns $250 per day. They are paid on Fridays for work completed Monday through Friday of the same week. Near year-end, the five employees worked Monday, December 31, and Wednesday through Friday, January 2, 3, and 4. New Year's Day (January 1) was an unpaid holiday. Prepare the year-end adjusting entry for wages expense and record payment of the employees' wages on Friday, January 4. View transaction list Journal entry worksheet < 1 2 Record the year-end adjusting entry for wages expense. Note: Enter debits before credits. General Journal Debit Credit Date December 31 < Prev 2 of 6 !!! Next >

Answers

Credit Date Accounts Title and Explaination Debit 31-Dec Wages Expense $1,250 Wages Payable $1,250 (To Record Adjusting Entry

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