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The general ledger of Pack-N-Ship at June 30, 2024, the end of the company's fiscal year, includes the following account balances before payroll and adjusting

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The general ledger of Pack-N-Ship at June 30, 2024, the end of the company's fiscal year, includes the following account balances before payroll and adjusting entries Click the icon to view the account balances) The additional data needed to develop the payroll and adjusting entries at June 30 are as follows: Click the icon to view the additional information) (Click the icon to view payroll tax rate information) Read the requirements a. The long-term debt is payable in annual installments of $60,000, with the next installment due on July 31. On that date, Pack - N- Ship will also pay one year's interest at 10% Interest was paid on July 31 of the preceding year. Make the adjusting entry to accrue interest expense at year-end Date Accounts and Explanation Credit a) Interest Expense Interest Payable Debit To accrue interest experise at year-end More Info iscal year, includes the following account balances before payroll and Data Table $ 117,000 0 0 a. The long-term debt is payable in annual installments of $60,000, with the next installment due on July 31. On that date, Pack-N-Ship will also pay one year's interest at 10% Interest was paid on July 31 of the preceding year. Make the adjusting entry to accrue interest expense at year-end. b. Gross unpaid salaries for the last payroll of the fiscal year were $5,000. Assume that employee income taxes withheld are $890 and that all earnings are subject to OASDI c. Record the associated employer taxes payable for the last payroll of the fiscal year. $5,000. Assume that the earnings are not subject to unemployment compensation taxes. d. On February 1, the company collected one year's rent of $7,500 in advance 0 0 Accounts Payable Interest Payable Salaries Payable Employee Income Taxes Payable FICA OA SDI Taxes Payable FICA-Medicare Taxes Payable Federal Unemployment Taxes Payable State Unemployment Taxes Payable Unearned Rent Revenue Long-Term Notes Payable 0 0 0 7,500 300.000 Print Done Everroreater Print Done

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