The following transactions occurred in ABC Company:

1. The accrued salaries at December 31,2020 amounted to $840, The accountant made an adjusting entry by debiting salaries expense $480 and crediting Accrues Salaried $490.

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

Dr. Depreciation Expense 900

Cr. Cash 900

Required:

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