At December 31, 2017, Giselle Company made an accrued expense adjusting entry of $1,700 for salaries. On January 4, 2018, it paid salaries of $3,000: $1,700 for December salaries and $1,300 for January salaries.
(a) Prepare the December 31 adjusting entry.
(b) Prepare the December 31 closing entry for salaries.
(c) Prepare the January 1 reversing entry and the January 4 journal entry to record the payment of salaries.
(d) Indicate the balances in Salaries Payable and Salaries Expense after posting these entries.