How do we record data on the journal entries

Reference no: EM131888413

Question: Wages earned from July 1st through December 31st was $480,000. Wages earned between Dec. 15th and Dec 31st amounting to $27,500 was not paid this until Jan 7th.

How do we record this on the journal entries and the T- accounts? We are trying to formulate financial statements for a business.

Reference no: EM131888413

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