Exercise 3-7 (Algo) Adjusting and paying accrued wages LO P3 Pablo Management has seven employees,...
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Accounting
Exercise 3-7 (Algo) Adjusting and paying accrued wages LO P3 Pablo Management has seven employees, each of whom earns $170 per day. They are paid on Fridays for work completed Monday through Friday of the same week. Near year-end, the seven employees worked Monday. December 31, and Wednesday, Thursday, and Friday, January 2,3 , and 4 . New Year's Day (January i) was an unpaid holiday. Prepare the December 31 year-end adjusting entry for wages expense and record payment of the employees' wages on Friday. January 4. Journal entry worksheet Record the December 31 year-end adjusting entry for wages experise. Note: Enter debits before credits
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