Million Corporation pays its employees on the fifteenth of each month. Accrued, but unpaid, salaries on December 31, 2015, totaled Br. 175,000. Salaries earned by Million’s employees from January 1 through January 15, 2016, totaled Br. 180,000. a) Prepare the necessary adjusting entry for salaries expense on December 31, 2015. b) Record the company’s payment of salaries on January 15, 2016

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