3.Your employer has a MondayFriday workweek and distributes its $20,000 payroll each Friday. In 20X1, December 31 is a Thursday. One of your assistants debited Salaries Expense and credited Salaries Payable for $12,000.If no correcting entry is recorded:

a.the balance sheet will overstate assets

b.the income statement will over state expenses

c. the balance sheet will overstate liabilities

d. the balance sheet will overstate retained earnings