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Sheridan E Coyote Corp, has a fiscal year end of July 31. Employees are paid bi-weekly and in the current year the bi-weekly pay period

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Sheridan E Coyote Corp, has a fiscal year end of July 31. Employees are paid bi-weekly and in the current year the bi-weekly pay period ends on July 25; the next period extends from July 26 to August 8 . Total bi-weekly payroll is $44,800 and is based on a sevenday work week. Sheridan E prepares reversing entries for all its accrued expenses at year end. (a) Prepare all necessary entries related to the August 8 payroll. (Credit account titles are automatically indented when the amount is entered. Do not indent monually. List all debit entries before credit entries. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Record journal entries in the order presented in the problem.) Show how the entries might be different if the company did not use reversing entries. (Credit occount titles are outomatically. indented when the amount Is entered. Do not indent manually, List ofl debit entries before credit entries. If no entry is required, select "No Entry" for the occount titles and enter 0 for the amounts. Record journal entries in the order presented in the problem.)

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