E3-31. Assessing Financial Statement Effects of Adjustments Across Two Periods LO3 Oakmont Company closes its accounts on December 31 each year. The company works a five-day 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