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Jones Company as a five day workweek (Monday through Friday). Employees earn $1,000 each workweek. a) If the month of September ends on Wednesday and

Jones Company as a five day workweek (Monday through Friday). Employees earn $1,000 each workweek.

a) If the month of September ends on Wednesday and wages will not be paid until Friday, how much wage expense should be accrued (and recorded as expense) in September?

b) What is the effect on the accounting equation on September 30?

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