Problem 2: Prior to adjustment at April 30, the end of the fiscal year, Salary Expense...

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Problem 2: 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. a) Present all necessary entries assuming a reversing entry is used. b) Present all necessary entries assuming NO reversing entry is used. Problem 2: 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. a) Present all necessary entries assuming a reversing entry is used. b) Present all necessary entries assuming NO reversing entry is used.