Adjusting entries are required at the end of the period for some accounts. (1) Explain why this process is required (15 points) and (2) develop the adjusting entry at the end of the period for salary payable to employees $2400 (10 points). Solution Adjusting entries are required at the end of the period for some accounts, This process is required due to accrual based of accounting i.e Mercantile Accounting , Adjustment entry are passed so as to provide the correct income statement & balance sheet . Adjustment Entry are passed so as to record the Expenses & Revenue accrued or earned in the period in which it lies.Adjustment entry are passed to provide true & fair view of financial statement. (2) Develop the adjusting entry at the end of the period for salary payable to employees $2400 Adjusting EntryAccount Titles and ExplanationDebitCreditSalary & Wages Expenses2400Salary & Wages Payable2400.