Question: Assume that prior to the adjustments in SE8 Salaries Expense

Assume that prior to the adjustments in SE8, Salaries Expense had a debit balance of $1,800 and Salaries Payable had a zero balance. Prepare a T account for each of these accounts. Enter the beginning balance. Post the adjustment for accrued salaries, the appropriate closing entry, and the reversing entry. Then, enter the transaction in the T accounts for a payment of $480 for salaries on April 3.
Below, indicated by letters, are the adjusting entries at the end of March.


Prepare the required reversing entry orentries.
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  • CreatedMarch 26, 2014
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