Sanborn Company has 10 employees, who earn a total of $3,300 in salaries each working day. They are paid on Monday for the five-day workweek ending on the previous Friday. Assume that year ended December 31, is a Wednesday and all employees will be paid salaries for five full days on the following Monday. The adjusting entry needed on December 31 is: a. Debit Salaries Expense, $9,900; credit Salaries Payable, $9,900. b. Debit Salaries Expense, $6,600; credit Salaries Payable, $6,600. c. Debit Salaries Expense, $16,500; credit Salaries Payable, $16,500. d. Debit Salaries Expense, $9,900; credit Cash, $9,900. e. Debit Salaries Payable, $9,900; credit Salaries Expense, $9,900
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