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 payroll 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?

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50,300 a. Salary Expense b. Salary Expense c. Salary Expense d. No journal entry necessary. Cash 50,300 50,300 Accrued Salaries Payable 50,300 125,750 Accrued Salaries Payable 125,750