A business hired a repairman to overhaul their plumbing system. The repairman began working on September 15 and finished the work on October 15. The business agreed to pay him $4,000 when the work was completed. As of September 30, the work was 50% complete, and the business made an adjusting entry to accrue repair expense as of the end of September. On October 15, the job was done and the business paid the repairman in full. Please provide the journal entry for the cash payment on October 15.
Definitions:
Special Offer
A promotional deal or discount aimed at encouraging consumers to buy a product or service.
Direct Materials
The raw materials that can be directly traced to the manufacturing of a product.
Remachine
The process of reworking or refurbishing a piece of machinery to restore its functionality or improve its performance.
Manufacturing Cost
The total expense incurred in the process of producing goods, including direct materials, direct labor, and manufacturing overhead.
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