Question 33 (1 point) A company's weekly payroll of $500 is paid on Fridays. Assume that the last day of the month falls on Wednesday. Which of the following is the required adjusting entry? 1) Debit Salaries Expense $300 and credit Salaries Payable $300 2) Debit Salaries Expense $200 and credit Salaries Payable $200 3) Debit Unpaid Salaries $300 and Credit Salaries Payable $300 04 Debit Salaries Payable $300 and credit Salaries Expense $300 Question 34 (1 point) Closing entries result in the transfer of net income or loss into the owner's Capital account or retained earnings (depending on the structure of the company). 1) True 2) False Question 35 (1 point) Which of the following is not a temporary account? (refers to the closing process) 1) Depreciation Expense, Vehicles 2) Service Revenue 3) Accumulated Depreciation, Vehicles 4) Interest Income