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Employees have worked for the full year and have received total wages of $296,000 in cash. However, they must wait until the next payday to
Employees have worked for the full year and have received total wages of $296,000 in cash. However, they must wait until the next payday to be paid for the last three days of the year they have worked. The amount owing is $9,500. Please answer the following four questions based on this information provided.
What is the balance/amount of Wages Expense account?
What is the balance/ amount of Accrued Wages account?
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