Question

12. Farr Company paid the weekly payroll on January 2 by debiting Wages Expense for $45,000....

12.

Farr Company paid the weekly payroll on January 2 by debiting Wages Expense for $45,000. The accountant preparing the payroll entry overlooked the fact that Wages Expense of $27,000 had been accrued at year end on December 31. The correcting entry is

Please explain more about accrued and why is the answer not 18,000?

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