Total weekly salaries expense for all employees is $10,000. This amount is paid at the end of the day on Friday of each five-day workweek. April 30 falls on Tuesday of this year, which means that the employees had worked two days since the last payday. The next payday is May 3. What is the required adjusting journal entry as of April 30? What is the journal entry needed to record payment of the salaries on May 3?
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