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Sanborn Company has 10 employees, who earn a total of$3, 800 in salaries each working day. They are paid on Monday for the five-day workweek

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Sanborn Company has 10 employees, who earn a total of$3, 800 in salaries each working day. They are paid on Monday for the five-day workweek ending on the previous Friday. Assume that year ended December 31, is a Wednesday and all employees will be paid salaries for five full days on the following Monday. The adjusting entry needed on December 31 is: Debit salaries Expense, $11.400: credit salaries Payable, $11.400. Debit salaries Expense, $7600: credit salaries Payable, $7600 Debit salaries Expense, $19,000; credit salaries Payable, $19.000. Debit salaries Payable, $11400: credit salaries Expense, $11.400 Debit salaries Expense, $11.400; credit cash $11.400

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