The following are selected unadjusted account balances as at December 31, the year end of Joseph's Law Firm:

Accounts receivable

$50,600

Prepaid insurance

12,600

Salaries payable

-0-

Service revenue

456,000

Insurance expense

8,200

Salaries expense

115,000

INFORMATION FOR ADJUSTING ENTRY Additional information obtained from a review of the law firm's records show salaries are paid monthly on the 15^th of each month. The salaries earned by employees from December 16 to 31 total $5,000. The company paid employees $4,200 of the amount earned on the last payday.

Prepare the December 31 adjusting entry required for this item provided above.	Answer 1Choose...CANNOT BE REVERSEDDR PREPAID SALARIES 800 CR SALARIES PAYABLE 800DR SALARIES PAYABLE 800 CR SALARIES EXPENSE 800DR SALARIES EXPENSE 4,200 SALARIES PAYABLE 4,200DR SALARIES EXPENSE 800 CR SALARIES PAYABLE 800DR SALARIES PAYABLE 800 CR SALARIES EARNED 800DR SALARIES PAYABLE 3,400 CR SALARIES PAYABLE 3,400
Prepare the reversing entry required for January 1.	Answer 2