Fighting Irish incorporated pays its employees $3,080 every two weeks ( $220/ day). The current two-week pay period ends on December 28, 2024, and employees are paid \$3,080. The next two-week pay period ends on January 11, 2025, and employees are paid $3,080 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 Salarles Payable before adjustment in 2024 is 50 ). Midshipmen Company borrows $19,500 from Falcon Company on July 1, 2024. Midshipmen repays the amount borrowed and pays interest of 12% (1\%/month) on June 30.2025. Required: Fighting Irish incorporated pays its employees $3,080 every two weeks ( $220/ day). The current two-week pay period ends on December 28, 2024, and employees are paid \$3,080. The next two-week pay period ends on January 11, 2025, and employees are paid $3,080 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 Salarles Payable before adjustment in 2024 is 50 ). Midshipmen Company borrows $19,500 from Falcon Company on July 1, 2024. Midshipmen repays the amount borrowed and pays interest of 12% (1\%/month) on June 30.2025. Required