14. A business pays weekly salaries of $120,000 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 (2 points) debit Salaries and Wages Expense, $120,000; credit Salaries and Wages Payable, $120,000. debit Salaries and Wages Expense, $96,000; credit Salaries and Wages Payable, $96,000. debit Salaries and Wages Payable, $120,000; credit Cash, $120,000. debit Salaries and Wages Expense, $96,000; credit Cash $96,000