3. Notes Payable $44,800. This balance consists of a note for 6 months at an annual interest rate of
7%, dated October 1.
4. Salaries and Wages Payable $0. There are 10 salaried employees. Salaries are paid every Friday for
the current week. 6 employees receive a salary of $655 each per week, and 4 employees earn $730
each per week. Assume December 31 is a Wednesday. Employees do not work weekends. All
employees worked the last 3 days of December.
Prepare the adjusting entries at December 31, 2022. (If no entry is required, select "No Entry" for the
account titles and enter O for the amounts. Credit account titles are automatically indented when the amount is
entered. Do not indent manually.)
it Tities and Explanation
Debit
Credit
12:34 AM
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o
9
e
O
3/11/2020
Il
PrtScn
Presen 1
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Poon II
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