A company's weekly payroll is $80,000 for a five-day workweek beginning each Monday and ending each Friday.The last time salaries and wages were recorded was Friday,December 26.What adjustment is needed on December 31,the last day of the company's fiscal period?
A) Increase wages expense by $48,000.
B) Decrease wages payable by $48,000.
C) Decrease cash by $48,000.
D) No adjustment is necessary.
Correct Answer:
Verified
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