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The trail balance for LB corp has the following balances in selected accounts on December 31,...

The trail balance for LB corp has the following balances in selected accounts on December 31, 2019. Accounts Receivable $0 0

The trail balance for LB corp has the following balances in selected accounts on December 31, 2019. Accounts Receivable $0 0 6,650 0 Accumulated Depreciation - Equipment Equipment Interest Payable Notes Payable Prepaid Insurance Salaries and Wages Payable Supplies 20,000 2,220 0 2,940 30,000 Unearned Service Revenue All of the accounts have normal balances. The information below has been gathered at December 31, 2019. Prepare the adjusting entry: 4. LB Corp. pays its employees total salaries of $11,000 every Monday for the preceding 5-day week (Monday-Friday). On Monday, December 27, 2019, employees were paid for the week ending December 24, 2019. All employees worked the five days ending December 31, 2019.
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ReportAnswer #1
DATE Accounts Name and Explanation Debit Credit
31-Dec-19 Salaries Expense       11,000
     Saalries payable       11,000
(To record salary expense)
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