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Travel Services had the following unadjusted balances at December 31, 2018: Salaries Payable $0; and Salaries Expense, $1,200. The following transactions have taken place during
Travel Services had the following unadjusted balances at December 31, 2018: Salaries Payable $0; and Salaries Expense, $1,200. The following transactions have taken place during the end of 2018 and beginning of 2019: i (Click the icon to view the transactions.) 1. The T-accounts have been opened for you. Enter the Salaries Payable and Salaries Expense unadjusted balances at December 31, 2018. 2. Journalize the entries assuming Travel Services does not use reversing entries. Do not record the reversing entry on Jan. 1. Post to the accounts. 3. Journalize the entries assuming Travel Services uses reversing entries. Do not forget to record the reversing entry on Jan. 1. Post to the accounts. Compare the balances on January 4, 2019 with Requirement 2 balances on January 4, 2019. Print Done * More Info 2018 Dec. 31 Accrued Salaries Expense at December 31, $3,500. 31 Closed the Salaries Expense account. 2019 Jan. 1 Reversed the accrued salaries. (Requirement 3 only) 4 Paid salaries of $4,700. This payment included the Salaries Payable amount, plus $1,200 for the first few days of January. Print Done
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