On December 31, Year 1, BIG Company had accrued salaries of $11,850. Required a. Record in general journal format the adjustment required as of December 31, Year 1. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. View transaction list Journal entry worksheet Record the adjusting entry for salaries payable. Note: Enter debits before credits Date December SV General Journal Debit Credit Record entry Clear entry View general joumal < Prev 2 of 4 Next > 00:36 b. Show the effect of above adjustment in a horizontal statements model. rences Note: Enter any decreases to account balances and cash outflows with a minus sign. In the Statement of Cash Flows column, use the initials OA to designate operating activity, IA for investing activity, FA for financing activity, and NC for net change in cash. Not all cells require input. BIG COMPANY Horizontal Statements Model for Year 1 Balance Sheet Liabilities Event Stockholders' Equity Income Statement Statement of Cash Flows Assets Salaries Payable Retained Revenue Expenses Net Income Earnings 1. c-1. Determine the amount of net income BIG would report on the Year 1 income statement, assuming that BIG received $21,700 of cash revenue. Net income c-2. What is the amount of net cash flow from operating activities for Year 1? Net cash flow from operating activities d. What amount of salaries payable would BIG report on the December 31, Year 1, balance sheet? Salaries payable < Prev 2 of 4 Next >