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If the end of the fiscal year is not a payroll date, the Direct Labor...

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Accounting

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If the end of the fiscal year is not a payroll date, the Direct Labor account normally has: Multiple Choice A debit balance, representing prepaid labor costs. A credit balance, representing accrued wages payable. Either a debit or a credit balance, depending upon whether the end of the fiscal year falls before or after the end of the pay period. A zero balance, because the Direct Labor account is closed along with the other expense accounts

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