Answer and Explanation:
The journal entries are shown below:
1 Legal fees expense $500
To Legal fees payable $500
(Being accrued expense is recorded)
2 Legal fees payable $500
To Cash $500
(Being amount paid is recorded)
3 Interest expense $2,007
To Interest payable $2,007
(Being accrued interest is recorded)
4 Interest payable $2,007
Interest expense $4,013
To Cash $6,020
(Being interest paid is recorded)
5 Salaries and wages expense $11,200
To Salaries and wages payable $11,200
(Being accrued expense is recorded)
6 Salaries and wages payable $11,200
Salaries and wages expense $2,800
To Cash $14,000
(Being salaries and wages paid is recorded)
