Sanborn Company has 10 employees who earn a total of 2 100

Last updated: 2/1/2024

Sanborn Company has 10 employees who earn a total of 2 100 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 Multiple Choice Debit Salaries Expense 6 300 credit Salaries Payable 6 300 Debit Salaries Expense 4 200 credit Salaries Payable 4 200 Debit Salaries Expense 10 500 credit Salaries Payable 10 500 Debit Salaries Payable 6 300 credit Salaries Expense 6 300 Debit Salaries Expense 6 300 credit Cash 6 300 T