A company pays each of its two office employees each Friday at the rate of $260 per day for a five-day week that begins on Monday. If the monthly accounting period ends on Tuesday and the employees worked on both Monday and Tuesday, the month-end adjusting entry to record the salaries earned but unpaid is:

Debit Salaries Payable $1,040 and credit Salaries Expense $1,040. Debit Salaries Expense $1,040 and credit Salaries Payable $1,040. Debit Salaries Expense $1,560 and credit Salaries Payable $1,560. Debit Salaries Expense $1,040 and credit Cash $1,040. Debit Unpaid Salaries $1,560 and credit Salaries Payable $1,560