Wages Payable on January 1 equals $12,000. By the end of the current year, Wage Expense equals $420,000, and cash payments for wages were $424,000. What is the balance in the T-account, Wages Payable, on December 31?

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The Answer of Wages Payable on January 1 equals $12,000. By the end of the current year, Wage Expense equals $420,000, and cash payments for wages were $424,000. What is the balance in the T-account, Wages Payable, on December 31?

Wages Payable on January 1 Equals $12,000