-13 Question 16 of 44 View Policies Current Attempt in Progress Bonita Co.pays its employees twice a month on the 7th and the 21 On June 21, Bonita Co, paid employee salaries of $4980. This transaction would decrease net income for the month by $4980, decrease the balance in Salaries and Wages Expense by $4980, increase owner's equity by $4980. be recorded by a $4980 debit to Salaries and Wages Payable and a $4980 credit to Salaries and Wages Expense. -13 Question 7 of 44 QU Mu View Policies Current Attempt in Progress QU Mu Sheffield Diner received a bill of $610 from the Culver Wine Advertising Agency. The owner, K. T. Lang, is postponing payment of the bill until a later date. The effect on specific items in the basic accounting equation is Q ME V M a decrease in Accounts Payable and an increase in Owner's Capital a decrease in Cash and an increase in Owner's Capital an increase in Accounts Payable and a decrease in Owner's Capital, a decrease in Cash and an increase in Accounts Payable. Q 9 MU