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A firm has a weekly payroll of $20,000 for a 5-day work week, Monday through Friday. If December 31, the last day of the accounting
A firm has a weekly payroll of $20,000 for a 5-day work week, Monday through Friday. If December 31, the last day of the accounting year, falls on Wednesday, the firm would make an adjusting entry that would:
a. decrease Cash $12,000
b. decrease Wages Payable $4,000
c. increase Wages Payable $4,000
d. increase Wages Expense $12,000
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