Milford Corporation pays its employees on the 15th of each month. Accrued, but unpaid, salaries on December 31, year 1, totaled $210,000. Salaries earned by Milford’s employees from January 1 through January 15, year 2, totaled $216,000.

a. Prepare the necessary adjusting entry for salaries expense on December 31, year 1.

b. Record the company’s payment of salaries on January 15, year 

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