Adjusting, Closing, and Reversing Entries Prepare adjusting, closing, and payroll entries for wages using two methods. Wages paid during 20-1 are $23,550. Wages earned but not paid (accrued) as of December 31, 20-1, are $270. On January 3, 20-2, payroll of $1,120 is paid, which includes the $270 of wages earned but not paid in December. Question Content Area 1. Prepare the entrie