Question

2011/1/14 Paid wages 50,000
journal entry



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Answer 1

see below

Step-by-step explanation:

Wages are business expenses. In the Double entry system, an increase in expenses is a debit entry.

When wagers are paid, cash available reduces. Cash is an asset account. A decrease in an asset account is a credit entry.

the Journal entry in the case will be

Wages A/C Dr $5000

Cash A/C Cr $5000