Brief Exercise 3-11 (Algo) Record the adjusting entry for salaries payable (LO3-3) Fighting Irish Incorporated pays its employees $5,460 every two weeks ($390/day). The current two-week pay period ends on December 28, 2024, and employees are paid $5,460. The next two-week pay period ends on January 11, 2025, and employees are paid $5,460. Required: 1. Record the adjusting entry on December 31, 2024. 2. Calculate the 2024 year-end adjusted balance of Salaries Payable (assuming the balance of Salaries Payable before adjustment in 2024 is $0).