Engel Company closes its accounts on December 31 each year. The company works a five-day work week and pays its employees every two weeks. On December 31,2008 , Engel accrued \(\$ 4,700\) of salaries payable. On January 9,2009 , the company paid salaries of \(\$ 12,000\) cash to employees. Prepare entries using the financial statement effects template to (a) accrue the salaries payable on December 31; and (b) record the salary payment on January 9 .