Deng Corporation's fiscal year ends on June 30. Deng also has a policy of paying their weekly payroll every Friday. Payroll records indicate the following salary costs were incurred late in June and early July: 
Instructions
a. Prepare any necessary adjusting journal entries that should be made at year end on June 30.
b. Prepare the journal entry to record the payment of the payroll on July 2.
Definitions:
Firearms
Devices designed to launch one or more projectiles driven by rapidly expanding high-pressure gas produced chemically by exothermic combustion of propellant within an ammunition cartridge.
Epidemics
Widespread occurrences of infectious diseases in a community at a particular time.
Gulf Coast
The coastline along the Gulf of Mexico, which spans several U.S. states, known for its unique culture, economy, and vulnerability to hurricanes.
Silver Mines
Sites of extraction for silver ore, from which silver is processed and refined for use in various products and monetary systems.
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