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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?

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