Answer:
1. Salaries expense A/c $780
To Salaries payable A/c $780
(Being adjusting salary is recorded)
2. Salaries expense A/c Dr $2,860 ($260 × 11 days)
Salary payable A/c Dr $780
To Cash A/c $3,640
(Being the payment is recorded)
3. $780
Explanation:
1. The adjusting entry is presented below:
Salaries expense A/c $780
To Salaries payable A/c $780
(Being adjusting salary is recorded)
The salaries expense is calculated below:
= Salary per day × number of days
= $260 × 3 days
= $780
The number of days is calculated from Dec 28 to Dec 31
2. The entry would be
Salaries expense A/c Dr $2,860 ($260 × 11 days)
Salary payable A/c Dr $780
To Cash A/c $3,640
(Being the payment is recorded)
3. The year-end adjusting balance would be
= Salaries Payable before adjustment + adjustment balance
= $0 + $780
= $780
