A company pays its employees $15,000 for a 5 day work week ending on Friday. Its journal entry would be: debit Cash; credit Salary Expense. debit Salary Expense; credit Cash. debit Salaries Payable; credit Salary Expense. debit Salary Expense; credit Salaries Payable. If the company in the preceding question paid their employees the following Monday instead of Friday and was preparing financial statements as of that Friday, it would: debit Cash: credit Salary Expense. debit Salary Expense; credit Cash. debit Salaries Payable; credit Salary Expense. debit Salary Expense; credit Salaries Payable. A law firm billed a client for $ 5,000 for services rendered. Its journal entry: debit Cash; credit Service Fees. debit Accounts Receivable; credit Service Fees. debit Service Fees; credit Cash. debit Service Fees; credit Accounts Receivable. A company purchased $4,000 of merchandise on account. Its journal entry: debit Merchandise Inventory; credit Cash. debit Merchandise Inventory; credit Accounts Receivable. debit Merchandise Inventory; credit Accounts Payable. debit Merchandise Inventory; credit Purchase Expense. An example of an account that should NOT be closed at year-end is: Accounts Receivable. Interest Revenue Salaries Expense. Dividends. All of the following arc required financial statements EXCEPT The Income Statement. The Balance Sheet. The Cash Flow Statement. The Trial Balance On October 1 RDJ Company paid $6,000 for office supplies. At December 31, $2,000 was left. RDJ reported net income of $50,000 but did not make an adjusting entry regarding the office supplies. RDJ's correct net income is: $44,000. $46,000. $48,000. $56,000