Prepare adjusting, closing, and payroll entries for wages using two methods. (a) Wages paid during...
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Accounting
Prepare adjusting, closing, and payroll entries for wages using two methods. (a) Wages paid during 20-1 are $20,130. (b) Wages earned but not paid (accrued) as of December 31, 20-1, are $200. (c) On January 3, 20-2, payroll of $810 is paid, which includes the $200 of wages earned but not paid in December. Required: 1. Prepare the entries without making a reversing entry. 2. Prepare the entries with the use of a reversing entry.
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