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Able Ltd operates on a five-day working week.Employees are paid on Thursday for work completed to Wednesday.The weekly wages bill is $40 000.If 30 June 2016 fell on a Tuesday,what was the accrued wages payable on 30 June 2016?
Traveler's Checks
A form of preprinted, fixed-amount cheques used by travelers to safely carry money; they can be exchanged for local currency.
One-Write System
A type of accounting system that allows for data to be entered into ledgers and journals at the same time through the use of carbon paper or a similar method.
Accounting Forms
Documents used for recording financial transactions and maintaining accounting records.
Payee
A person who receives a payment.
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