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16 December, 21:24

Smith Company recorded an adjustment for salaries on December 31 of $1,500. On January 1 of the following year, the company reverses this adjusting entry before payment. What is the journal entry made on January 1 to reverse the adjusting entry made on December 31 of the previous year?

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  1. 16 December, 21:37
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    The payment is not made hence the reversing entry is as follows

    Explanation:

    Salaries payable Debit $1500

    Salaries Expense Credit $1500
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