Hugh Morris Company pays weekly wages of $10,000 every Friday for a five day week ending on that day. If the last day of the year is on Wednesday, the adjusting entry to record the accrued wages is:
A. debit Wages Expense $6,000; credit Cash $6,000
B. debit Wages Expense $4,000; credit Cash $4,000
C. debit Wages Expense $6,000; credit Wages Payable $6,000
D. debit Wages Expense $6,000; credit Drawing $6,000
Answer: C
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