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Wages and wages payable

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Wages and Wages Payable

The company pays its employees each Monday for the work performed during the preceding 5-day work week. Total payroll for one week is $25,000. December 31 fell on a Wednesday.(1) Make the journal entry necessary to record wages payable as of December 31. (2) Make the journal entry necessary on the following January 5 to record payment of wages for the preceding week. Assume that this is a very strict company and that there were no holidays during the week.

Reference no: EM13553653

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