What happen when wages payable is decreased?

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1267342

2026-05-16 08:05

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Wages Payable is a liability account that records wages that a company owes but has not yet paid. A decrease in this account more than likely signifies payment of those wages.

About the only other "decrease" which is generally a rarity, is if the account was increased accident by an amount that the company did not owe and there was an adjusting entry made to record that error.

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