Hello, I need help with the following question(s): p Mail-James.yarbrougho x YeC

Question

Hello, I need help with the following question(s):

p Mail-James.yarbrougho x YeChegg Study! Guided So ? | Connect X New Tab ? | Secure l https://newconnect.mheducation.com/flow/connect.html Ch 3 Exercises Help Save & Exit Submit Saved Check my work QS 3-12 Accrued expenses adjustments LO P1 For each separate case below, follow the three-step process for adjusting the accrued expense account at December 31 4.37 pcinis Step 1 Determine what the current account balance equals Step 2: Determine what the current account balance should equal Step 3: Record the December 31 adjusting entry to get from step 1to step 2 eBook Piint Assume no other acjusting entries are made during the year. References At year end, salaries expense of $15,500 has been incurred by the company but is not yet paid to employees. Salaries payable Step 1 Determine what the current account balance equals Step 2: Determine what the cuent account balance should equal Step 3: Record the December 31 adjusting entry to get from step 1 to step 2. Mc Graw 7:11 PM O Type here to search 6/21/2018 2

Explanation / Answer

Solution a:

Solution b:

Solution c:

Salaries Payable Step 1: Determine what the current balance equals $0.00 Step 2: Determine what the current balance should equals $15,000.00 Step 3: Record the December 31 adjusting entry to get from step 1 to step 2: Salaries Expense Dr $15,000.00           To Salaries payable $15,000.00

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