Journalizing current liabilities Edmund O’Mally Associates reported short term notes payable and salary payable as follows:
|
2012 |
2012 |
2011 |
|
Current liabilities (partial) |
|
|
|
Short term notes payable |
$16,400 |
$15,600 |
|
Salary payable |
3,400 |
3,100 |
During 2012, O’Mally paid off both current liabilities that were left over from 2011, borrowed money on short term notes payable, and accrued salary expense.
Requirement
1. Journalize all four of these transactions for O’Mally during 2012.