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Wages accrued at the end of an accounting period

Sage, INC. has 20 employees who earn $100 per day and are paid every Friday. The end of the accounting period is on a Wednesday. How much wages should the firm accrue at the end of the period?

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Solution Summary

This solution explains the journal entry to accrue wages, with the correct amounts provided, at the end of the period for Sage, Inc.

$2.19