2. ABC Co. meets its payroll obligations weekly, drawing paychecks for employees every Friday. Paychecks...
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Accounting
2. ABC Co. meets its payroll obligations weekly, drawing paychecks for employees every Friday. Paychecks were last drawn and paid on Friday, June 27, 20X1. ABC Co. is now preparing financial statements as of and for the quarter ended June 30, 20X1. If employees had earned additional pay during the period from June 28 through June 30 of $500,000, what adjusting journal entry will be needed on June 30, 20X1?
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