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You are preparing the year end adjusting entries for a business with a October 31 year end. Employees work for $2,900 per five-day work week.
You are preparing the year end adjusting entries for a business with a October 31 year end. Employees work for $2,900 per five-day work week. They were last paid on Friday, October 22 (Monday to Friday pay period) and will next be paid in two weeks on Friday, Nov 5 Prepare year-end adjusting entries based on the above information as well as any required subsequent cash payment
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