If a firm pays its employees on Saturday and the accounting year ends the same day, how much salary expense is accrued?

In this scenario, the firm pays its employees on Saturday, which is also the last day of the accounting year. Since the payment coincides with the end of the accounting period, there is no salary expense to accrue for that day. The rationale behind this is that an accrual adjustment is necessary for expenses that have been incurred but not yet paid by the end of the accounting period. Since the employees are being paid on the same day as the accounting year ends, the salary expense is recognized at that time, resulting in no need for an additional accrual. The firm recognizes the expense when it makes the payment, thus no salary expense needs to be accrued for that day.