At December 31, Witts Corp. reports Salaries Payable of $20,000 on its statement of financial position. The next payroll amounting to $50,000 is to be paid in January. What will be the journal entry to record the payment of salaries in January?

(a)Salaries Expense............................................................................. 50,000

Salaries Payable....................................................................... 20,000

Cash.......................................................................................... 30,000

(b)Salaries Expense............................................................................. 50,000

Cash.......................................................................................... 50,000

(c)Salaries Expense............................................................................. 50,000

Salaries Payable.............................................................................. 20,000

Cash.......................................................................................... 70,000

(d)Salaries Expense............................................................................. 30,000

Salaries Payable.............................................................................. 20,000

Cash.......................................................................................... 50,000