A company pays each of its two office employees each Friday at the rate of $290 per day for a five-day week that begins on Monday. If the monthly accounting period ends on Tuesday and the employees worked on both Monday and Tuesday, the month-end adjusting entry to record the salaries earned but unpaid is:
A. Debit Salaries Payable $1160 and credit Salaries Expense $1160.
B. Debit Salaries Expense $1160 and credit Cash $1160.
C. Debit Unpaid Salaries $1740 and credit Salaries Payable $1740.
D. Debit Salaries Expense $1740 and credit Salaries Payable $1740.
E. Debit Salaries Expense $1160 and credit Salaries Payable $1160.
Answer: E
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