At year-end, salaries expense of $17,000 has been incurred by the company but is not yet paid to employees. Salaries payable Step 1: Determine what the current account balance equals.
Step 2: Determine what the current account balance should equal.
Step 3: Record the December 31 adjusting entry to get from step 1 to step 2
b. At its December 31 year-end, the company owes $325 of interest on a line-of-credit loan. That interest will not be paid until sometime in January of the next year. Interest payable
Step 1: Determine what the current account balance equals.
Step 2: Determine what the current account balance should equal.
Step 3: Record the December 31 adjusting entry to get from step 1 to step 2.
c. At its December 31 year-end, the company holds a mortgage payable that has incurred $950 in annual interest that is neither recorded nor paid. The company intends to pay the interest on January 7 of the next year. Interest payable
Step 1: Determine what the current account balance equals.
Step 2: Determine what the current account balance should equal.
Step 3: Record the December 31 adjusting entry to get from step 1 to step 2.

Following are the responses to the given points:

Explanation:

For part A:

                                                                                 Payable Salary

for point 1                              $0                                             $19,500

for point  2                     $17,000             Cr             $21,800

                                                                                                          $41,300

for point  3           Accounts title        Dr.             Cr.  

                             Salaries expense        $17,000  

                              Payable Salary                         $17,000  

For part A:                                                                                  Payable Interest  

for point  1                  $0                                                 $0

for point  2                  $325               Cr.                    $325

                                                                                                         $325

for point  3               Accounts title                    Dr.               Cr.  

                                   Interest on Expense         $325  

                                    Payable  Interest                                  $325  

For part C:                                                               Payable Interest

for point 1                          $0            $0

for point 2                          $950                         Cr.                  $950

                                                                                                                $950

for point 3                          Accounts title            Dr.               Cr.  

                                             Interest on Expense$950  

                                                 Payable Interest                                $950

answer; interviews;

answer; ///after donning a gown, mask and eyewear;