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Suppose that, by the time vacations actually are taken in 2017, wage rates for employees have rison by an average of 5 percent from their

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Suppose that, by the time vacations actually are taken in 2017, wage rates for employees have rison by an average of 5 percent from their 2016 level. Also, assume wages earned in 2017 including vacations earned and take in 2017) were $30 million. Prepare a journal entry that summarizes 2017 wages and the payment for 2016 vacations taken in 2017

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