1) A companys Wages Payable account had a beginning balance of $12,000. During the month, the company paid out $70,000 cash for wages. The account had an ending balance of $23,000. What was recorded as Wage Expense during the period?

A. $81,000

B. $59,000

C. $35,000

D. $93,000

E. $47,000

2) Which of the following would decrease Retained Earnings?

A. A debit to Prepaid Expenses.

B. A credit to Sales Revenue.

C. A debit to Salaries Payable.

D. A credit to Common Stock.

E. A debit to Utilities Expense.