A salary owed to employees is an example of an accrued expense. True or False True False Swed The adjusting entry to record salaries earned, but unpaid at the end of the accounting period, should be recorded as follows Multiple Choice Debt Cash and credit Salaries Expense Debit Salaries Payable and credt Salaries Expense Debt Salaries Expense and credit Salaries Payable Debit Salanes Expense and credit Cash Debit Accrued Salaries and credt Salaries Payable. Accrual basis accounting Multiple Choice Recognizes revenues when received in cosh Isllowed because it gives complete Information about cash flows Recognizes expenses when pold in cosh Eliminates the need for adjusting entries of the end of each period Increases the comparability of financial statements from period to period