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  • Jul 16, 2007, 01:42 PM
    ealvarez
    Managerial accounting
    Hi,
    Payment of cash for production workers' wages is an asset exchange transcation.

    Is this correct? Please help!
  • Jul 16, 2007, 03:21 PM
    CaptainForest
    No it is not.

    You would Debit an Expense (income statement account) and credit cash (a balance sheet/asset account)

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