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a. On April 1, the company retained an attorney for a flat monthly fee of $3,000. Payment for April legal services was made by the

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a. On April 1, the company retained an attorney for a flat monthly fee of $3,000. Payment for April legal services was made by the company on May 12. b. A $840,000 note payable requires 9.0% annual interest, or $6,300, to be paid at the 20th day of each month. The interest was last paid on April 20 and the next payment is due on May 20. As of April 30, $2,100 of interest expense has accrued. c. Total weekly salaries expense for all employees is $12,000. This amount is paid at the end of the day on Friday of each five-day workweek. April 30 falls on a Tuesday, which means that the employees had worked two days since the last payday. The next payday is May 3. The above three separate situations require adjusting journal entries to prepare financial statements as of April 30. For each situation, present both the April 30 adjusting entry and the subsequent entry during May to record the payment of the accrued expenses. (Use 360 days a year. Do not round intermediate calculations.) Saved 3- Homework Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does no Debit Credit 2 No Date 3,000 General Journal Legal services expense Legal services payable Apr 30 1 >> 3,000 5 3,000 ints 2 May 12 Legal services payable Cash 3,000 0 2.100 3 Apr 30 Interest expense Interest payable O 2,100 4 May 20 4,200 2,100 Interest expense Interest payable Cash lol 6,300 4,000 SIS 5 Apr 30 4,000 Salaries expense Salaries payable 7,200 4,800 6 May 03 Salaries payable Salaries expense Cash ol 12,000 2 of 5 ! (Me Graw HHI

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