Question 47 4 pts A company owes employee salaries of $16,000 at the end of the year. These salaries will be paid in the following year. What adjusting entry, if any, does the company need to record at the end of the year? No adjusting entry is necessary at the end of the year. Debit Salaries Payable and credit Salaries Expense for $16,000. Debit Salaries Expense and credit Salaries Payable for $16,000. Debit Salaries Expense and credit Cash for $16,000