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Show the effect on elements of the financial statements

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Reference no: EM132903015

Question - Bio Inc.'s 5-day weekly payroll from Monday to Friday is $50,000, and the year ended on a Wednesday. Bio Inc. pays and records wages each Friday. Prepare the adjusting entry as of December 31, 2015. Show the effect on elements of the financial statements.

Reference no: EM132903015

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