Redwood Park Senior Center has a weekly payroll of $20,000. December 31 falls on Wednesday, and Redwood Park Senior Center will pay its employees the following Monday (January 5) for the previous full week. Assume Redwood Park Senior Center has a five-day workweek and has an unadjusted balance in Salaries Expense of $510,000.

PLEASE EXPLAIN WHERE ALL THE NUMBERS COME FROM!!

Redwood Park Senior Center has a weekly payroll of $20,000. December 31 falls on Wednesday, and Redwood Park Senior Center will pay its employees the following Monday (January 5) for the previous full week. Assume Redwood Park Senior Center has a five-day workweek and has an unadjusted balance in Salaries Expense of $510,000 Read the requirements. Requirement 1. Record the adjusting entry for accrued salaries on December 31. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Accounts and Explanation Debit Credit Dec. 31 Salaries Expense 12,000 Salaries Payable 12,000 To accrue salaries expense. Requirement 2. Post the adjusting entry to the accounts involved, and show their balances after adjustments. Post the adjustment to the two accounts using a "Dec. 31" posting reference, and then calculate and enter the ending balance of the accounts using a Bal." posting reference on the appropriate side of each account. Salaries Payable Salaries Expense Unad, Bal. 510,000