31) For the month of September, Countrywide Sales, Inc. recorded gross pay of $74,500. The...
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31) For the month of September, Countrywide Sales, Inc. recorded gross pay of $74,500. The net pay for 31) the month amounted to $59,500. The salaries are paid on October 5. Which of the following is the journal entry for the payment of salaries? A) Salaries and Wages Expense 59,500 Cash 59,500 B) Salaries and Wages Payable74500 Cash 74,500 C) Cash 74500 Salaries and Wages Expense 74,500 D) Salaries and Wages Payable 59,500 Cash 59,500
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