Question: Please have it answer with an explaniation as soon as possible! Thank you! Pine Park Senior Center has a weekly payroll of $12,500. December 31

Please have it answer with an explaniation as soon as possible! Thank you!

Pine Park Senior Center has a weekly payroll of $12,500. December 31 falls on Monday, and Pine Park Senior Center will pay its employees the following Monday (January 7) for the previous full week. Assume Pine Park Senior Center has a five-day workweek and has an unadjusted balance in Salaries Expense of $560,000. Read the requirements. Requirement 1. Record the adjusting entry for accrued salaries on December 31 . (Record debits first, then credits. Select the explanation on the last line of the journal entry table.)

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