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Required Information [The following information applies to the questions displayed below.] During its first year...

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Accounting

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Required Information [The following information applies to the questions displayed below.] During its first year of operations, Walnut Company completed the following two transactions. The annual accounting period ends December 31 a. Paid and recorded wages of $143.000 during Year 1: however, at the end of Year 1, three days' wages are unpaid and have not yet been recorded because the weekly payroll will not be paid to employees until January 6 of Year 2 Wages for the three days are $4.800. b. Collected rent revenue of $1.500 on December 12 of Year 1 for office space that Walnut rented to another company. The rent collected was for 30 days from December 12 of Year 1 to January 10 of Year 2 Required: 1. With respect to wages, provide the adjusting entry required at the end of Year 1 and the journal entry required on January 6 of Year 2 (if no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction Mist Journal entry worksheet

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