A company owes employee salaries of $5,000 on December 31 for work completed in the current year, but the company doesn't plan to pay those salaries until the following year. What adjusting entry, if any, is needed on December 317 Multiple Choice Debt Salaries Payable for $5,000, Credit Salaries Expense for $5,000. No adjusting entry is needed. Debit Salaries Payable for $5,000 Credit Cash for 55.000 Debit Salaries Expense for $5,000; Credit Solaris Payable for $5,000