A Business Pays Weekly Salaries of $25,000 on Friday for a Five-Day

Multiple Choice

A business pays weekly salaries of $25,000 on Friday for a five-day week ending on that day.The adjusting entry necessary at the end of the fiscal period ending on a Thursday is

A) debit Salaries Payable, $20,000; credit Cash, $20,000.
B) debit Salaries Expense, $20,000; credit Cash, $20,000.
C) debit Salaries Expense, $20,000; credit Salaries Payable, $20,000.
D) debit Salaries Expense, $5,000; credit Salaries Payable, $5,000.