On December 31, 2014, Axle Services prepared the following accrual adjustment: Axle paid salaries amounting to $200 on January 07, 2015 for salaries due in 2014. Journalize the entries for January 1, 2015 and January 7, 2015, assuming Axle uses reversing entries.

Question

On December 31, 2014, Axle Services prepared the following accrual adjustment:  Axle paid salaries amounting to $200 on January 07, 2015 for salaries due in 2014. Journalize the entries for January 1, 2015 and January 7, 2015, assuming Axle uses reversing entries.

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The Answer of On December 31, 2014, Axle Services prepared the following accrual adjustment:  Axle paid salaries amounting to $200 on January 07, 2015 for salaries due in 2014. Journalize the entries for January 1, 2015 and January 7, 2015, assuming Axle uses reversing entries.

On December 31, 2014, Axle Services Prepared the Following Accrual