Alex Company has 10 employees, who earn a total of $2,500 in salarles each working day. They are paid on Monday for the five-day workweek ending on the previous Friday. Assume that year ended December 31, is a Wednesday and all employees will be pald salaries for five full days on the following Monday. The adjusting entry needed on December 31 is: Debit Prepayments, $7.500; credit Salaries Expense, $7,500. Debit Salaries Expense. $5,000: credit Accruals, $5,000. O Debit Salaries Expense. $12.500: credit Accruals. $12.500. Debit Salaries Expense. $7.500: credit Accruals, $7.500. Debit Salaries Expense. $7.500: credit Cash. $7.500