Adjusting Journal Entries Infinity Contracting uses the accrual basis of accounting. The company's fiscal year end is May 31. The company adjusts accounts annually. . Required: Using the information provided below, prepare journal entries to: (a) Record the original transactions (b) Record the necessary year-end (May 31, 2019) adjustments (c) Record the June 8, 2019 payment of employee salaries Explanations for journal entries are not required. All journal entries should be written in whole dollars (i.e: no decimals / cents shown), so you must round to the nearest whole dollar. Example: $268.12 and $267.85 would be rounded to $268 Question 6 (5 points) Saved Employee salaries are $16,000 per week (five-day work week, Monday to Friday). Employees are paid every two weeks, on every second Friday. The last payday was on Friday, May 25 which paid for the following days: o May 14 - 18 and May 21 - 25. This has already been recorded. May 31, 2019 is a Thursday. The next payday is Friday, June 8, 2019. Sun 20 Mon 21 Tue 22 Wed 23 Thu 24 Fri 25 Sat 26 Payday 27 28 29 30 31 1 2 4 6 7 00 9 Payday 10 11 12 13 14 15 16 Format ... Transaction Date Account Name(s) Debit ($) Credit ($) (b) >