Analyzing Accounts Using Adjusted Data adjustments. of Supplies? \$ premium? Preparing Adjusting Entries (FSET) On January 7 of the following year, the company paid salaries of $26,250 cash to employees. Record the following transactions using the financial statement effects template: a. Accrual of salaries on December 31. c. Payment of salaries on January 7 . (c) If we assume that no beginning balance existed in Wages Payable or Wages Expense on January 1, how much cash was paid as wages during January? (d) If the truck has a useful life of five years, what is the monthly amount of depreciation expense? $ How many months has Fields owned the truck? months