Question

HW Score! 10.2270, 10.22 0 TU PES O Question Help SF3-10 (similar to) Birch Park Senior Center has a weekly payroll of $5,000. December 31 fails on Wednesday, and Birch Park Senior Center will pay its employees the following Monday (January 5) for the previous full week. Assume Birch Park Senior Center has a five-day workweek and has an adjusted balance in Salaries Expense of $560,000 Read the regulaments Requirement 1. Record the adjusting entry for accrued salaries on December 31. (Record debits first, then credits. Select the explanation on the last line of the journal entry tobie Date Accounts and explanation Debit Credit Dec 31 Requirements X 1. Record the adjusting entry for accrued salaries on December 31 2. Post the adjusting entry to the accounts involved, and show their balances after adjustments 3. Record the journal entry for payment of sales made on January 5, Print Done Choose from any list or enter any number in the input fields and then click Check Answer parts ning Clear All Check Answer

Answer 1

1:

Date	Accounts and Explanation	Debit	Credit
Dec. 31	Salaries Expense	3,000*
	Salaries Payable		3,000*
	To accrue salaries expense.

* Calculations:

$5,000	Payroll for a 5-day work week
÷ 5	work days
$1,000	Salaries expense per work day
Thus,
$1,000	Salaries expense per work day
×3	work days
$3,000	Salaries expense for Monday through Wednesday

2:

Salaries payable

	$3,000 Dec 31
	$3,000. Bal.

  Salaries Expense

$560,000
Dec 31. 3,000
Bal. $563,000

3:

Date	Accounts and Explanation	Debit	Credit
Jan. 5	Salaries Expense	2,000*
	Salaries Payable	3,000
	Cash		5,000
	To record payment of salaries.

* Calculations:

$1,000	Salaries expense per work day
×2	work days
$2,000	Salaries expense for Thursday through Friday