Consider the following situations: a. Total salaries for all employees is ($4,400) per month. Employees are paid

Question:

Consider the following situations:

a. Total salaries for all employees is $$4,400$ per month. Employees are paid on the 1st and 15th of the month.

b. Work performed but not yet billed to customers for the month is $$3,300$.

c. The company pays interest on its $$19,200,$ 4% one-year notes payable on the first day of each month.

Assume the company records adjusting entries monthly. Journalize the adjusting entries needed as of January 31.

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