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Business, 27.02.2020 22:46 maxr7198

Johnny’s Drive-in pays its employees bi-weekly. The first payday of 2014 will be on January 3 and will compensate employees for work done from December 18-31, 2013. Because the employee work was performed in 2013, the wages expense should be recorded in 2013.Record the Transaction:What adjusting entry will need to be made? Total compensation to be paid for the 2 week period is $100,000.ACCOUNTSWAGES EXPENSECASHWAGES PAYABLEACCOUNTS PAYABLEAMOUNTS$100,000$100,000$110, 000$110,000

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Johnny’s Drive-in pays its employees bi-weekly. The first payday of 2014 will be on January 3 and wi...
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