Sheridan Company's weekly payroll, paid on Fridays, totals $5,350. Employees work a 5-day week. Prepare Sheridan's adjusting entry on Wednesday, December 31, and the journal entry to record the $5,350 cash payment on Friday, January 2. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts.)