easy · Financial Accounting accounting-cycle-financial-statements
At year-end, employees have earned $4,500 in wages that will be paid in the next fiscal year.
What is the necessary adjusting journal entry?
- Debit Wage Expense $4,500; Credit Wages Payable $4,500
- Debit Wage Expense $4,500; Credit Cash $4,500
- Debit Cash $4,500; Credit Wage Revenue $4,500
- Debit Wages Payable $4,500; Credit Cash $4,500 next period
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