Canyon Realty Co. pays weekly salaries of 12,000 of Friday for a five-day week ending on that day. What is the adjustment at the end of the accounting period, assuming that the period ends (a) on Tuesday, (b) on Wednesday? Indicate each account affected, whether the account is increased or decreased, and the amount of the increase or decrease.

You have to calculate the salaries expense for 2 days and for 3 days. The journal entry will be: Debit Salaries Expense for the amount calculated and Credit Salaries Payable.

Hint: The calculation is $12,000 / 5 * number of days.