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Prior to adjustment at April 30, the end of the fiscal year, Salary Expense has a debit balance of $372,750. Salaries owed but not paid

Prior to adjustment at April 30, the end of the fiscal year, Salary Expense has a debit balance of $372,750. Salaries owed but not paid as of the same date total $5,275. On May 2, $6,000 is paid.

  1. Present all necessary entries assuming a reversing entry is used.
  2. Present all necessary entries assuming NO reversing entry is used.

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