Preparing Adjusting and Closing Entries Across Two Periods Norton Company closes its accounts on December 31 each year. The company works a five-day work week and pays its employees every two weeks, On December 31, 2018, Norton accrued $4,700 of salaries payable. On January 7, 2019, the company paid salaries of $12,000 cash to employees. Prepare journal entries to: (a) Accrue the salaries payable on December 31: General Journal Description Debit Credit Dec. 31 Salaries Payable 4700 Cash 0 4700 To record accrued salaries 0 (b) Close the Salaries Expense account on December 31 (the account has a year-end balance of $250,000 after adjustments). General Journal Description Debit Credit Dec. 31 Salaries Expense 0 Salaries Payable 0 To close the Salaries Expense account (c) Record the salary payment on January 7. General Journal Description Debit Jan. 7 Salaries Payable Cash 0 Salaries Expense 16700 To record payment of salaries. Please answer all parts of the question. Credit 4700 12000 0