The Balance of the Wages Expense Account of Ryan Company,prior

Essay

The balance of the Wages Expense account of Ryan Company,prior to adjustment,was $95,000.On December 31,the end of the fiscal year,an adjustment for $7,900 of accrued wages needed to be made.On January 12,wages of $56,400 were paid.Prepare the adjusting entry for wages,the entry to close the Wages Expense account,the corresponding reversing entry,and the entry to pay the wages on January 12.Omit explanations.