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Maple Park Senior Center has a weekly payroll of $15,000. December 31 falls on Wednesday, and Maple Park Senior Center will pay its employees the
Maple Park Senior Center has a weekly payroll of $15,000. December 31 falls on Wednesday, and Maple Park Senior Center will pay its employees the following Monday (January 5) for the previous full week. Assume Maple Park Senior Center has a five-day workweek and has an unadjusted balance in Salaries Expense of $510,000. Read the requirements. Requirement 1. Record the adjusting entry for accrued salaries on December 31. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) | Date Dec. 31 Accounts and Explanation Salaries Expense Salaries Payable Debit | Credit 9,000 9,000 To accrue salaries expense. Requirement 2. Post the adjusting entry to the accounts involved, and show their balances after adjustments. Post the adjustment to the two accounts using a "Dec. 31" posting reference, and then calculate and enter the ending balance of the accounts using a "Bal" posting reference on the appropriate side of each account. Salaries Payable Salaries Expense 510,000 Unadj. Bal. Choose from any list or enter any number in the input fields and then click Check
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