Reversing Entries "BE3.13 Assume that GlaxoSmithKline (GBR) made a December 31 adjusting entry to debit Salaries and Wages Expense and credit Salaries and Wages Payable for 4,200 for one of its departments. On January 2, Glaxo paid the weekly payroll of 7,000. Prepare Glaxo's (a) January 1 reversing entry; (b) January 2 entry (assuming the reversing entry was prepared); and (c) January 2 entry (assuming the reversing entry was not prepared). "E3.20 (Adjusting and Reversing Entries) When the accounts of Constantine A.. are examined, the adjusting data listed below are uncovered on December 31, the end of an annual fiscal period. 1. The prepaid insurance account shows a debit of 6,000, representing the cost of a 2-year fire insurance policy dated August 1 of the current year. 2. On November 1, Rent Revenue was credited for 2,400, representing revenue from a subrental for a 3-month period beginning on that date. 3. Purchase of advertising materials for 800 during the year was recorded in the Supplies Expense account. On December 31, advertising materials of 290 are on hand. 4. Interest of 770 has accrued on notes payable. Instructions Prepare the following in general journal form. a. The adjusting entry for each item. b. The reversing entry for each item where appropriate