Letu2019s say that the month of january ends on a wednesday, Ask an Expert

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let%u2019s say that the month of January ends on a Wednesday (January 31st). We pay our employees on Friday each week. Therefore, as of the close-of-business on Wednesday, our employees have worked three days (Mon, Tues, & Wed) in the month of January for which they will not be paid until February. Daily wages are $2,000. What sort of entry should we make on January 31st?

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Accounting Basics, Accounting

Category:- Accounting Basics
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