Question: Erik O Hern Associates reported short term notes payable and salaries payable
Erik O’Hern Associates reported short-term notes payable and salaries payable as follows:
During 2016, O’Hern paid off both current liabilities that were left over from 2015, borrowed money on short-term notes payable, and accrued salaries expense. Journalize all four of these transactions for O’Hern during 2016. Assume no interest on short-term notes payable of $15,200.
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