Price Coveday wow (Monday through Friday Employees am 3560 per day of the month of May ads on Wednesday, and wages will not be Friday, how much wage expense should be crued on Wednesday a $500 $1,120 52.800 d. 51.580 QUESTION 9 Per Co. has a five-day workweek (Monday through Friday). Employees cam 5500 per day. The month of May ended on Wednesday, but erroneously, no or was made to record the wages that were worked in May. What is the effect of this omission on the May financial statements? a abities will be understated and profit will be understated babies will be understated and assets will be understated cabilities will be understated and net income wwe overstated d. abilities will be overstated and net income will be overstated QUESTION 10 Second Company sold goods, receiving $40,000 in cash and $70,000 on credit. How much revenue should the company record under the accrual basis of accounting? a. $30,000 Ob $70,000 Oc $40,000 d. $110.000