Indio Company prepared the following adjusting entries at year end on December 31, 2020: In an effort to minimize errors in recording transactions, Indio Company utilizes reversing entries. Prepare reversing entries on January 1, 2021.

Question 9 Indio Company prepared the following adjusting entries at year end on December 31, 2020: (a) Interest Expense 280 Interest Payable 280 (b) Interest Receivable 540 Interest Revenue 540 (c) Salaries and Wages Expense 5,300 Salaries and Wages Payable 5,300 In an effort to minimize errors in recording transactions, Indio Company utilizes reversing entries. Prepare reversing entries on January 1, 2021. (Credit account titles are automatically indented when the amount is entered. Do not indent manually No. Account Titles and Explanation Debit Credit