For the month of September, Countrywide Sales, Inc. recorded gross pay of $74,500. The net pay for 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 Payable 59,500
Cash 59,500
B)
Salaries and Wages Payable 74,500
Cash 74,500
C)
Salaries and Wages Expense 59,500
Cash 59,500
D)
Cash 74,500
Salaries and Wages Expense 74,500
A
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