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Problem 1: Turn Tables paid employee wages on and through Friday, January 26, and the next payroll will be paid in February. There are three more working days in January (29-31). Employees work 5 days a week and the company pays P900 a day in wages. What will be the adjusting entry to accrue wages expense at the end of January?
Group of answer choices
Option 1: (DR) Wages Expense ................................................................... 2,700(CR) Wages Payable ........................................................... 2,700
Option 2: (DR) Wages Expense ................................................................... 900(CR) Wages Payable ........................................................... 900
Option 3: (DR) Wages Expense ................................................................... 4,500(CR) Wages Payable ........................................................... 4,500
Option 4: No adjusting entry is required.
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