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A company owes its employees $5,000 for the year ended December 31. It will pay employees on January 6 for the previous two weeks salaries.

A company owes its employees $5,000 for the year ended December 31. It will pay employees on January 6 for the previous two weeks salaries. the year-end adjusting on entry on December 31 will include a debit to Salaries Expense and a credit to Cash. True or False

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