Date Accounts and Explanation Debit Credit Salaries Expense Salaries Payable Salaries Payable Salaries Expense Salaries Expense a. 120 120 b. 300 300 c. 120 120 Cash d. No adjustment is needed because...

Assume that the weekly payroll of In the Woods Camping Supplies is $300. December 31, end of the year, falls on Tuesday, and In the Woods will pay its employee on Friday for the full week. What adjusting entry will In the Woods make on Tuesday, December 31? (Use five days as a full workweek.)

Extracted text: Date Accounts and Explanation Debit Credit Salaries Expense Salaries Payable Salaries Payable Salaries Expense Salaries Expense a. 120 120 b. 300 300 c. 120 120 Cash d. No adjustment is needed because the company will pay the payroll on Friday.