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Alex Company has 10 employees, who earn a total of $2,050 in salaries each working...

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Accounting

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Alex Company has 10 employees, who earn a total of $2,050 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: Multiple Choice Debit Salaries Expense, $10,250; credit Accruals, $10,250. Debit Salaries Expense, $6,150; credit Accruals, $6,150. Debit Salaries Expense, $6,150; credit Cash, $6,150. Debit Prepayments, \$6,150; credit Salaries Expense, \$6,150. Debit Salaries Exbense. $4.100 : credit Accruals. $4.100

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