Under my 'liabilities' column I'm not sure what label should be put for the $56,000 value. I know that it's not 'Salaries & Wage Expenses' because I tried that already. And the empty box under 'Effect on ratio' for 'Req 2' I am unsure of as well... I know that it is not 'No Change' because I tried that already and it said it was wrong.... besides that everything else I know is right

Check my work Jack Hammer Company completed the following transactions. The annual accounting period ends December 31. 1.42 points Apr. 30 Received $792,000 from Commerce Bank after signing a 12-month, 5.00 percent, promissory note. June 6 Purchased merchandise on account at a cost of $91,000. (Assume a perpetual inventory system. ) July 15 Paid for the June 6 purchase. Aug. 31 Signed a contract to provide security service to a small apartment complex starting in September, and collected six months' fees in advance, amounting to $32,000. Dec. 31 Determined salary and wages of $56,000 were earned but not yet paid as of December 31 (ignore payroll taxes). Dec. 31 Adjusted the accounts at year-end, relating to interest. Dec. 31 Adjusted the accounts at year-end, relating to security service. Print Required: 1. For each listed transaction and related adjusting entry, indicate the accounts, amounts, and effects on the accounting equation. 2. For each item, indicate whether the debt-to-assets ratio is increased or decreased or there is no change. (Assume Jack Hammer's debt-to-assets ratio is less than 1.0.) Complete this question by entering your answers in the tabs below. Required 1 Required 2 For each listed transaction and related adjusting entry, indicate the accounts, amounts, and effects on the accounting equation. (Do not round intermediate calculations. Round your answers dollar. Enter any decreases to assets, liabilities, or stockholders equity with a minus sign. Enter your answers in transaction order provided in the problem statement.) Assets Stockholders' Equity Date Apr. 30 June 6 July 15 Aug. 31 Dec. 31 Dec. 31 Dec. 31 Cash Inventories Cash Cash 792,000 91,000 (91,000) 32,000 Liabilities Notes Payable (short-term) Accounts Payable Accounts Payable Deferred Revenue 792,000 91,000 (91,000) 32,000 56,000 26,400 Interest Payable Deferred Revenue Salaries and Wages Expense Interest Expense Service Revenue (56,000) (26,400) 21,333 Required 1 Required 2 > Jack Hammer Company completed the following transactions. The annual accounting period ends December 31. 1.42 points Apr. 30 Received $792,000 from Commerce Bank after signing a 12-month, 5.00 percent, promissory note. June 6 Purchased merchandise on account at a cost of $91,000. (Assume a perpetual inventory system. ) July 15 Paid for the June 6 purchase. Aug. 31 Signed a contract to provide security service to a small apartment complex starting in September, and collected six months' fees in advance, amounting to $32,000. Dec. 31 Determined salary and wages of $56,000 were earned but not yet paid as of December 31 (ignore payroll taxes). Dec. 31 Adjusted the accounts at year-end, relating to interest. Dec. 31 Adjusted the accounts at year-end, relating to security service. Print Required: 1. For each listed transaction and related adjusting entry, indicate the accounts, amounts, and effects on the accounting equation. 2. For each item, indicate whether the debt-to-assets ratio is increased or decreased or there is no change. (Assume Jack Hammer's debt-to-assets ratio is less than 1.0.) Complete this question by entering your answers in the tabs below. Required 1 Required 2 For each item, indicate whether the debt-to-assets ratio is increased or decreased or there is no change. (Assume Jack Hammer's debt-to-assets ratio is less than 1.0.) (Enter your answers in transaction order provided in the problem statement.) Effect on Ratio Increased Increased Date Apr. 30 June 6 July 15 Aug. 31 Dec. 31 Dec. 31 Dec. 31 Numerator Increased Increased Decreased Increased Increased Increased Decreased Denominator Increased Increased Decreased Increased No Change No Change No Change Increased Increased Increased Decreased