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what would be the journal entry for this: Employees are paid monthly on the first business day of the month for work done in the
what would be the journal entry for this:
Employees are paid monthly on the first business day of the month for work done in the previous month. The total payroll for the previous month is $110,000. (Ignore payroll taxes for this assignment.) Accounting wrote and distributed the paychecks.
theres already a credit balance of 110,000 in an account titled "payables - salaries and wages" from the previous month
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