Alex Company has 10 employees, who earn a total of $2,300 in salaries 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 paid salaries for five full days on the following Monday. The adjusting entry needed on December 31 is: Debit Salaries Expense, $6,900; credit Cash, $6,900. Debit Prepayments, $6,900; credit Salaries Expense, $6,900. Debit Salaries Expense, $6,900; credit Accruals, $6,900. Debit Salaries Expense, $4,600; credit Accruals, $4,600. Debit Salaries Expense, $11,500; credit Accruals, $11,500