FULL SCREEN PRINTER VERSION BACK NEXT Brief Exercise 4-18 At December 31, 2021, Giselle Company made an accrued expense adjusting entry of $1,700 for salaries. On January 4, 2022, it paid salaries of $3,000: $1,700 for December salaries and $1,300 for January salaries Your answer ist Prepare the December 31 dosing entry for salaries. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Date Account Titles and Explanation Debit Credit Dec. 31 (Closing entry) FULL SCREEN Prepare the January 1 reversing entry and the January 4 journal entry to record the payment of salaries. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts) PRINTER VERSION BLACK NERE Date Account Titles and Explanation Debit Credit Jan. 1 (To reverse Dec. 31 accrual) Jan. 4 (To record Jan. 4 payment of salary) FULL SCREEN PRINTER VERSION Indicate the balances in Salaries Payable and Salaries Expense after posting these entries. Salaries Expense Date Explanation Ref Debit Credit Balance Dec. 31 Accrual 31 Closing entry Jan. 1 Reversing entry 4 Payment of salary Date Explanation Salaries Payable Credit Ref Debit Balance Dec. 31 Accrual Jan. 1 Reversing entry SHOWROACHINE