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Problem 1: Magic Shop pays each of its two office employees each Friday at the rate of P100 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:
Group of answer choices
Option 1: Debit Salaries Expense P600 and credit Salaries Payable P600
Option 2: Debit Unpaid Salaries P600 and credit Salaries Payable P600
Option 3: Debit Salaries Expense P400 and credit Salaries Payable P400
Option 4: Debit Salaries Payable P400 and credit Salaries Expense P400
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