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Prepare any necessary journal entries for 2020, including adjusting entries. 4. Acme’s employees earned $1,000 as...

Prepare any necessary journal entries for 2020, including adjusting entries. 4. Acme’s employees earned $1,000 as of 12/31/20 which will be paid to them on 1/5/21.

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Answer #1
Date General Journal Debit Credit
12/31/20 Salaries and wages expense $1,000
Salaries and wages payable $1,000
1/5/21 Salaries and wages payable $1,000
Cash $1,000
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