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Show the general journal entry for the following balance day adjustment. Wages due but not yet paid to employees at 30 June 2016 is $5000

Show the general journal entry for the following balance day adjustment. Wages due but not yet paid to employees at 30 June 2016 is $5000.

If the balance day adjustment above was not prepared, would the profit for year ending 30 June 2016 be understated or overstated?

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