Indicate the balances in Salaries Payable and Sataries Expense after posting these entries Salaries Expense Credit Date Explanation Ref Debit Balance Dec 31 Accrual 31 Closing entry Jan. Reversing 1 entry 4 Payment of salary Salaries Payable Credit Debit Date Explanation Ref Balance Dec 31 Accrual Jan. Reversing 1 entry VW Show Attempt History Current Attempt in Progress Al December 31, 2021, Ivanhoe Company made an accrued expense adjusting entry of $1.560 for salaries. On January 4, 2022. It paid salaries of $2.700: $1,560 for December salaries and $1.140 for January salaries (a) Your answer is correct Prepare the December 31 adjusting entry. Credit account titles are automatically indented when amount is entired. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts) Date Account Titles and Explanation Debit Credit 1.560 Dec 31 Salaries 1560 Sales Payable (To accrue salaries a year-end)