The accountant preparing the payroll entry for ABD Inc. overlooked the fact that Salaries and Wages Expense of $27,000 had been accrued at year end on December 31. The correcting entry is Salaries and Wages Payable 27,000 Cash 27,000 20,000 Cash Salaries and Wages Expense 20,000 27,000 Salaries and Wages Payable Salaries and Wages Expense 27,000 27,000 Cash 27,000 Salaries and Wages Expense