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Suppose that Verizon paid employee wages on and through Friday, January 26, and the next payroll will be paid in February. There a three more working days in January (29-31). Employees work 5 days a week and the company pays $1250 a day in wages. What wil the adjusting entry to accrue wages expense at the end of January? O No adjusting entry is required. O Salaries and Wages Expense Salaries and Wages Payable 3750 3750

Suppose that Verizon paid employee wages on and through Friday, January 26, and the next payroll will be paid in February. There a three more working days in January (29-31). Employees work 5 days a week and the company pays $1250 a day in wages. What wil the adjusting entry to accrue wages expense at the end of January? O No adjusting entry is required. O Salaries and Wages Expense Salaries and Wages Payable 3750 3750

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Suppose that Verizon paid employee wages on and through Friday, January 26, and the next payroll will be paid in February. There are three more working days in January (29-31). Employees work 5 days a week and the company pays $1250 a day in wages. What will be the adjusting entry to accrue wages expense at the end of January? h O No adjusting entry is required. O Salaries and Wages Expense Salaries and Wages Payable Salaries and Wages Expense Salaries and Wages Payable Salaries and Wages Expense Salaries and Wages Payable 3750 6250 1250 3750 6250 1250
Transcribed Image Text:Suppose that Verizon paid employee wages on and through Friday, January 26, and the next payroll will be paid in February. There are three more working days in January (29-31). Employees work 5 days a week and the company pays $1250 a day in wages. What will be the adjusting entry to accrue wages expense at the end of January? h O No adjusting entry is required. O Salaries and Wages Expense Salaries and Wages Payable Salaries and Wages Expense Salaries and Wages Payable Salaries and Wages Expense Salaries and Wages Payable 3750 6250 1250 3750 6250 1250
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