Bonita Inc. pays its employees twice a month, on the 7th and the 21st. On June 21, Bonita Inc. paid employee salaries of $4980. This transaction would decrease the balance in Salaries and Wages Expense by $4980. decrease net income for the month by $4980. increase stockholders' equity by $4980. be recorded by a $4980 debit to Salaries and Wages Payable and a $3980 credit to Salaries and Wages Expense. O O