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16) A business pays weekly salaries on Friday of $25,000 for a five-day week ending on Friday. Assuming the fiscal period ends on a Wednesday,
16) A business pays weekly salaries on Friday of $25,000 for a five-day week ending on Friday. Assuming the fiscal period ends on a Wednesday, the adjusting entry for accrued salaries would involve a: (1 mark) A) debit to salary payable for $10,000. B) debit to salary expense for $15,000. C) credit to salary payable for $10,000. D) credit to salary expense for $15,000
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