(L.OBJ. 1) Journalizing current liabilities [15 min] Ed O’Connor Associates reported sh...

(L.OBJ. 1) Journalizing current liabilities [15 min]

Ed O’Connor Associates reported short-term notes payable and salary payable as follows:

During 2012, O’Connor paid off both current liabilities that were left over from 2011. During 2012, O’Connor borrowed money on short-term notes payable and accrued salary expense during 2012.

Requirement

1. Journalize all four of these transactions for O’Connor during 2012.