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Golden Rams pays weekly salaries of $5,000 on Friday for a five-day work week ending on that day. The adjusting entry necessary at the end

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Golden Rams pays weekly salaries of $5,000 on Friday for a five-day work week ending on that day. The adjusting entry necessary at the end of the fiscal period ending on Thursday is Debit Salaries Payable, $1,000; credit Cash, $1,000. Debit Salaries Payable, $1,000; credit Salaries Expense, $1,000. Debit Salaries Expense, $5.000; credit Cash, $5,000. Debit Salaries Expense $4,000; credit Salaries Payable, $4,000

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