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QUESTION
Protonix Corp. has a payroll of $6,000 for a five-day workweek. Its employees are paid each Friday for the five-day workweek.
Protonix Corp. has a payroll of $6,000 for a five-day workweek. Its employees are paid each Friday for the five-day workweek. The adjusting entry on December 31, 2011 assuming the year ends on Thursday would be:
