Proctor Inc. has a weekly payroll of $8,000 for a 5-day workweek, Monday through Friday. If December 31, the last day of the accounting year, falls on Wednesday, Proctor would make an adjustment that would

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Proctor Inc. needs to recognize the wages expense for the three days (Monday to Wednesday) that have been incurred but not yet paid by December 31. The calculation is ($8,000/5 days) * 3 days = $4,800. Thus, wages expense increases by $4,800.