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On 12/31/2020, while preparing adjusting entries at the end of the year, the company should have recognized wage expense of 2 that is not going
On 12/31/2020, while preparing adjusting entries at the end of the year, the company should have recognized wage expense of 2 that is not going to be paid until 2021. Instead of the correct entry, the bookkeeper prepared the following entry: Wages Payable 2 Wages Expense 2 Prepare the entry to fix the effects of this error. The error was discovered in early 2021 before the wages were paid to the employee (no cash changed hands yet). You can ignore tax effects. ONLY PUT YOUR FINAL ANSWER IN THE SPACES. Do not put in any work or any journal entries you may have worked through to get to the final answer. Only your final answer. Anything you place in the text box I am going to assume is part of your final answer and will grade it as such
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