On Dec 31, 2018, while auditing the accounting records for the last two years, an error...

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On Dec 31, 2018, while auditing the accounting records for the last two years, an error is found. At the end of 2017, the com

business accounting

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Answer 1

Answer #1

Dec 31st, 2017

Wages / salaries expense account....Debit $45,000

To Wages/ salaries expense payable account... credit $45,000

(being accrued salaries recorded)

Jan 15th, 2018

Wages/ salaries expense payable account... Debit $45,000

To cash account...........................................credit $45,000

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Answer 2

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