The following transactions occurred in ABC Company:

1. The accountant recorded $900 Depreciation Expense on store equipment as follows:

Dr. Depreciation Expense 900

Cr. Accounts Payable 900

2. The accrued salaries at December 31,2020 amounted to $490, The accountant made an adjusting entry by debiting salaries expense $940 and crediting Cash $940.

Required:

Show the effect of each entry on the financial statements separately. (Correcting entries are not required).

Please do not correct the entries, just show us how it will look at the statement, and what are the effects.