Garcia Realty Co. pays weekly salaries of $16,400 on Friday for a 5 day work week ending on that day. Journalize the necessary adjusting entry at the end of the accounting period. Assuming the period ends (a) on a Wednesday and (b) on a Thursday.

Adjusting entries for accrued salaries Chart of Accounts Journal Chart of Accounts CHART OF ACCOUNTS Garcia Realty Co. General Ledger ASSETS 11 Cash 12 Accounts Receivable 13 Supples 14 Prepaid Insurance 15 Land 16 Equipment REVENUE 41 Fees Earned EXPENSES 51 Advertising Expense 52 Insurance Expense 53 Rent Expense 54 Salaries Expense 55 Supplies Expense 56 Ubilities Expense 57 Depreciation Expense LIABILITIES 21 Accounts Payable