QS 3-12Preparing adjusting entries (annual) accrued salaries expense LO4 December 2017 Juny 2018 December January Sun Wed Thu FR Sat sat Tun Man Wed Thu FI Mon TLD Sun 1 14 1 2 2 6 10 12 11 13 3 4 5 6 11 9 8 15 18 17 19 14 20 10 12 16 11 13 15 14 16 21 23 22 21 23 24 17 22 25 27 18 26 19 20 24 24 28 31 18 25 27 26 30 26 31 a Salary expense incurred Payday Yara Clothing (Yara), a retail store at the mall, hires a number of employees to work 7 days a week. Yara's owes its employee wages for the period of December 31, 2017 to January 13, 2018 (14 days) for $5,600. The wages owed are equal each day and the employees will be paid on January 15, 2018. Yara prepares annual financial statements and has a December 31 year-end. How much does Yara owe its employees per day? b. How many days are between December 31, 2017 and December 31, 2017? c. In order to prepare the annual financial statements, record the adjusting journal entry on December 31, 2017 Record the payment of wages on January 15, 2018 QS 3-14 Preparing adjusting entries (monthly)-accrued revenues LO4 TiaSott provided $17,000 of services to customers in the month of March 2017 On March 31, 2017 TatSoft has not yet billed or collected payment for the $17.000. On April 16, $12,000 of these were collected a. Using the accrual basis of accounting, explain whether TiaSott earned revenue of $17,000 as of March 31, 2017 b. Record the adjusting journal entry on March 31, 2017 C Record the journal entry on April 16, 2017