Employees were paid $8,000 on June 9, 2010 for five days work through Friday, June 3. What adjusting entry was necessary at the company's year end, Tuesday, May 31, 2010, as a result of this?
A) Debit Wages Expense and credit Cash for $8,000
B) Debit Wages Expense and credit Shareholders' equity for $4,800.
C) Debit Wages Payable and credit Wages Expense for $4,800.
D) Debit Wages Expense and credit Wages Payable for $3,200.
Correct Answer:
Verified
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