PREPARE ADJUSTING ENTRIES DEC 31,2020

Question 3 of 8 -/5 View Policies Current Attempt in Progress The following information relates to the Blossom Company at the end of 2020. The accounting period is the calendar year. Employees are paid every Friday for the five-day week ending on that day. Salaries amount to $ 5,600 per week. The accounting period ends on a Tuesday. A note for $ 6,100 was received from a customer in a sales transaction on April 1, 2020. The note matures in one year and bears 8% interest On September 1, 2020, Blossom borrowed $ 9,000 cash by signing a note payable due in one year at 4% interest 1 2 3 Using the information given above, prepare the necessary adjusting entries at December 31, 2020. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) No. Account Titles and Explanation Salaries and Wages Expense Debit Credit 1 22400 Salaries and Wages Payable 2400 2