Assessing Financial Statement Effects of Adjustments Across Two Periods Oakmont Company closes its accounts on December 31 each year. The company works a fiveday work week and pays its employees every two weeks. On December 31, Oakmont accrued $4,700 of salaries payable. On January 9 of the following year, the company paid salaries of $15,000 cash to employees. Prepare entries using the financial statement effects template to (a) accrue the salaries payable on December 31, and (b) record the salary payment nine days later on January 9.

Note: For each account category, indicate the appropriate account name. Enter "N/A" for any account category that is not used for a given transaction. Note: Indicate a decrease in an account category by including a negative sign with the amount.

Transaction	Cash Asset +	Noncash Assets =	Balance Sheet Liabilities +	Contrib. Capital +	Earned Capital	Revenues -	Income Statement Expenses	= Net Income
a.	$	$	$	$	$	$	$	$
Account Names
b.	$	$	$	$	$	$	$	$
Account Names