On December 31, 20--, Sanchez Company needed to record its accrued wages for year-end. If December 31 is a Wednesday, then Sanchez Company must account for three days of wages. The company operates on a five-day workweek, the prior week's gross pay was $29,870, and the net pay was $19,995

Financial And Managerial Accounting
15th Edition
ISBN:9781337902663
Author:WARREN, Carl S.
Publisher:WARREN, Carl S.
Chapter8: Receivables
Section: Chapter Questions
Problem 2BE: Allowance method Journalize the following transactions, using the allowance method of accounting for...
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On December 31, 20--, Sanchez Company needed to record its accrued wages for year-end. If December 31 is a Wednesday, then Sanchez Company must account for three days of wages.

The company operates on a five-day workweek, the prior week's gross pay was $29,870, and the net pay was $19,995.

Adjusting Entry for the Accrued Wages
Journalize the adjusting entry to be made on December 31 for the accrued wages.
If an amount box does not require an entry, leave it blank.
Account
Debit
Credit
Transcribed Image Text:Adjusting Entry for the Accrued Wages Journalize the adjusting entry to be made on December 31 for the accrued wages. If an amount box does not require an entry, leave it blank. Account Debit Credit
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