Question

Current Attempt in Progress At December 31, 2021. Crane Company made an accrued expense adjusting entry of $1,860 for salaries. On January 4, 2022, it paid salaries of $2,800: 51.860 for December salaries and 5940 for January salaries Prepare the December 31 adjusting entry. Credit account titles are automatically indented when amount is entered. Do not indent manually amounts. no entry is required, select "No Entry for the accounts and enter for the Date Account Titles and Explanation Debit Credit Dec 31 (To accrue salaries at year-end e Textbook and Media List of Accounts Save for Later Attempts of used to The parts of this question must be completed in order. This part will be available when you complete the part above 526 PM Search OBH e 9 2/15/2020

Answer 1

Answer-a-

Date	Account Tittle and Explanation	Debit	Credit
12/31/2021	Salaries Expense	$1,860
	Salaries Payable		$1,860
	(To record Accrued salary at year end)

b-Closing entry for salaries expense

12/31/2021	Income summary	$1,860
	Salaries expense		$1,860
	(To record closing entry)

c-

Date	Account Tittle and Explanation	Debit	Credit
1/4/2022	Salaries Payable	$1,860
	Salaries Expenses		$1,860
	(To record reverse entry on Dec.31 accrual)
1/4/2022	Salaries expenses	$2,800
	Cash		$2,800
	(To record Jan.4 payment of salary)