Maggie Bakeries has a weekly payroll of $6,250 and pays its employees every Friday. None of the staff work on weekends. This year, the last day of the companys fiscal year end is a Wednesday. What is the correct adjusting entry to accrue salaries expense?

1. debit Salaries Expense for $ 3,750 and credit Salaries Payable for $3,750

2. debit Salaries Expense for $ 1,250 and credit Salaries Payable for $ 1,250

3. debit Salaries Expense for $ 6,250 and credit Salaries Payable for $6,250

4. debit Salaries Expense for $ 2,500 and credit Cash for $2,500