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Wages Are $37,500 Per Week for a Five-Day Workweek, Ending

Question 10

Multiple Choice

Wages are $37,500 per week for a five-day workweek, ending on Friday. The last payday of the year was Friday, June 26. Determine the balance in Salaries Expense on July 1 after reversing entries have been journalized and posted to the ledger.


A) credit balance of $15,000
B) debit balance of $37,500
C) debit balance of $15,000
D) credit balance of $7,500

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