Brief Exercise $3-24($Algo$)$ Determine financial statement effects of salaries owed $($LO$3-3)$

Fighting Irish Incorporated pays its employees $$4,620$ every two weeks $($ $$\frac{330}{?}$ day$).$ The current two$-$week pay period ends on December $28,2024,$ and employees are paid $$4,620.$ The next two$-$week pay period ends on January $11,2025,$ and employees are paid $$4,620.$

Required:

Determine the financial statement effects of the adjusting entry for salaries owed on December $31,2024.($Amounts to be deducted should be entered with minus sign.$)$

$\backslash$table$[[$Income Statement:$],[$Revenues$,-,$Expenses,$=,$Net Income$],[?,,,990,$Salaries Expense,,$(990)],[+,,,,,,],[$Balance Sheet:$],[,$Assets,$=,,$Liabilities,$+,\backslash$table$[[$Stockholders$\text{'}],[$Equity$]]],[?,,,,$Salaries Payable,,$990],[?,,,,,,]]$