Accrued Liabilities

Charger Inc. had the following items that require adjusting entries at the end of the year.

1. Charger pays its employees $2,380 every Friday for a 5-day work week. This year December 31 falls on a Wednesday.
2. Charger earned income of $150,000 for the year for tax purposes. Its effective tax rate is 30%. These taxes must be paid by April 15 of next year.
3. Charger borrowed $50,000 with a note payable dated August 1. This note specifies 8%. The interest and principal are due on March 31 of the following year.
4. Chargers president earns a bonus equal to 10% of income in excess of $100,000. Income for the year was $150,000. This bonus is paid in May of the following year and any expense is charged to wages expense.

Required:

Prepare the adjusting journal entries to record these transactions at the end of the current year. If an amount box does not require an entry, leave it blank.