Question: Assume that GlaxoSmithKline (GBR) made a December 31 adjusting entry to debit Salaries Expense and credit Salaries Payable for 4,200 for one of its departments.

Assume that GlaxoSmithKline (GBR) made a December 31 adjusting entry to debit Salaries Expense and credit Salaries Payable for £4,200 for one of its departments. On January 2, Glaxo’s paid the weekly payroll of £7,000. Prepare Glaxo’s
(a) January 1 reversing entry;
(b) January 2 entry (assuming the reversing entry was prepared); and
(c) January 2 entry (assuming the reversing entry was not prepared).

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