Refer to the data in Problem 4-2A, page 224 .
Required
1. Open ledger accounts for Salaries Payable and Salaries Expense. Insert their unadjusted balances at August 31, 2017.
2. Journalize adjusting entry f and the closing entry for Salaries Expense at August 31. Include explanations. Post to the accounts.
3. On September 5, Silber Insurance Agency paid the next payroll amount of $3,480. Journalize this cash payment, with explanations, and post to the accounts. Show the balance in each account.
4. Repeat Requirements 1 through 3 using a reversing entry. Compare the balances of Salaries Payable and Salaries Expense computed by using a reversing entry with those balances computed without using a reversing entry (as they appear in your answer to Requirement 3).
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