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Al signs an employment agreement with Jane Smith. Ms. Smith will begin working on 1/1/14, earning $180,000 per year. She will be paid on the
Al signs an employment agreement with Jane Smith. Ms. Smith will begin working on 1/1/14, earning $180,000 per year. She will be paid on the 15th of each month for the prior months work (e.g., her first paycheck will be issued on February 15th, as payment for Januarys services). [Assume all of these payments are made they will not be shown explicitly in this list of transactions.]
What is the journal entry for this ?
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