1. Total weekly salaries expense for all employees is $10,000. This amount is paid at the end of the day on Friday of each five-day workweek. December 31 falls on Wednesday of this year. (25%) Required: 1. Prepare adjusting entry for December 31. 2. Prepare journal entry for salaries payment on January 2 of the following year. 2. Ausley Acoustics recorded the following transactions during month of October 2018, a. Received $1,500 cash from customer for three months of service beginning October 1, 2015, and ending December 31, 2018. b. The company pays $240 on October 1 for their one-year auto insurance policy. c. The company began October with $50 of office supplies on hand. On October 10, the company purchased office supplies on account of $100 The company have $80 office supplies on October 31, 2018 d. The company received its electric bill on October 30 for $125 but did not pay it until November 10. e. Estimated depreciation on office equipment is $600 for October. Required: Prepare adjusting entries on October 31, 2018. (40%)