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Exercise 3.5 (Algo) Adjusting and paying accrued expenses LO P3 a. On Aprili 1, the company hired an attomey for a flat monthly fee of $2,000. Payment for April legal services was made by the company on May 12 b. As of April 30. $2,556 of interest expense has accrued on a note payable. The full interest payment of $7,667 on the note is due on May 20 c. Total weekly salaries expense for all employees is $9,000. This amount is pald at the end of the day on Frlday of each five-day workweek. Aprii 30 falls on a Tuesday, which means that the employees had worked two days since the fast poyday. The next payday is May 3 The above three separate situations requfre adjusting joumal entries to prepare financial statements as of April 30 . For each situation. present both the April 30 adjusting entry and the subsequent entry duting May to record poyment of the accrued expenses Note: Do not round intermediate calculations. Journal entry worksheet 23456 On April 1, the company hirnd an attorney for a flat monthly fee of 52,000. Payment for April ingal services was made by the company on Moy 12, Prepare the reguired adfusting entry, if any. present both the Apri 30 adjusting entry and the subsequent entry during May to record payment of the accrued expenses: Note: Do not round intermediate calculations. Journal entry worksheet 56 On April 1, the company hired on attorney for a flat monthly fee of $2,000. Payment for April legal frervices was made by the company on May 12. Prepare the reauired adjusting entry, if any. folen later debina before greatin. present both the Aprii 30 adjusting entry and the subsequent entry during May to lecord statements as of Apra su, tor each sitivation. Note: Do not round intermediate calculations. Journal entry worksheet