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Hugh Morris Company pays weekly wages of $15,000 every Friday for a five day week ending on that day. If the last day of the
Hugh Morris Company pays weekly wages of $15,000 every Friday for a five day week ending on that day. If the last day of the year is on Tuesday, the adjusting entry to record the accrued wages is: Multiple Choice debit Wages Expense $6,000; credit Drawing $6,000 debit Wages Expense $9,000; credit Wages Payable $9,000 debit Wages Expense $6,000; credit Wages Payable $6,000 debit Wages Expense $15,000; credit Cash $15,000
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