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Windy Harbor Boat Company pays its employees on a weekly basis each Friday. During the week ended Friday, January 3, Year 2, the company had

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Windy Harbor Boat Company pays its employees on a weekly basis each Friday. During the week ended Friday, January 3, Year 2, the company had a weekly payoff of $125, 750. Assuming that the company is on a calendar basis, has a five-day workweek, and that daily wages are always the same, what adjusting journal entry (if any) would be made on December 31, Year 1? A. Salary Expense $125, 750 Accrued Salaries Payable $125, 750 B. Salary Expense $50, 300 Accrued Salaries Payable $50, 300 C. Salary Expense $50, 300 Cash $50, 300 D. No journal entry necessary

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