Zen Arcade paid the weekly payroll on January 2 by debiting Salaries and Wages Expense...
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Accounting
Zen Arcade paid the weekly payroll on January 2 by debiting Salaries and Wages Expense for $47,000. The accountant preparing the payroll entry overlooked the fact that Salaries and Wages Expense of $27,000 had been accrued at year end on December 31. The correcting entry is
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