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KTM Industries pays weekly salaries of $ 2 5 , 0 0 0 on Friday for a five - day week ending on Friday. The

KTM Industries pays weekly salaries of $25,000 on Friday for a five-day week ending on Friday. The adjusting entry necessary at the end of the fiscal period ending on Thursday is
debit Salary Expense, $20,000
debit Salaries Payable, $5,000
credit Salaries Payable, $5,000
credit Salaries expense $25,000
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