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31-08-2018
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Pablo management has ten part-time employees, each of whom earns $145 per day. they are normally paid on fridays for work completed monday through friday of the same week. assume that december 28, 2016, was a friday, and that they were paid in full on that day. the next week, the ten employees worked only four days because new year's day was an unpaid holiday. prepare the adjusting entry that would be recorded on monday, december 31, 2016 and friday, january 4, 2017.

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hancesoome hancesoome

09-09-2018

Explanation:

December 31, 2016: To record accrued wages for one day (10 workers × $145) = $1,450.

January 4, 2017: To record accrued and current wages.

Wages expense = 10 workers × 3 days × $145 = $4,350

Cash = 10 workers × 4 days × $145 = $5,800.

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