Milford Corporation pays its employees on the 15th of each month. Accrued, but unpaid, salaries on December 31, year 1, totaled $210,000. Salaries earned by Milford's employees from January 1 through January 15, year 2, totaled $216,000. a. & b. Prepare the necessary adjusting entries for salaries expense on December 31, year 1 and January 15, year 2. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

Mifford Corporation pays its employees on the 15 th of each month. Accrued, but unpaid, salaries on December 31, year 1, totaled $210,000. Salaries earned by Milford's employees from January 1 through January 15 , year 2, totaled $216,000. a. \& b. Prepare the necessary adjusting entries for salaries expense on December 31, year 1 and January 15, year 2 . (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)