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? 50,000 Salaries Expense.... Salaries Payable. Cash.. 20,000 30,000 Salaries Expense. Cash.... 50,000 50,000 Salaries Expense. Salaries Payable Cash. 50,000 20,000 70,000 Salaries Expense Salaries Payable Cash...... 30,000 20,000 50,000