Grayson Bank agrees to lend the Trust Company $96,629 on January 1. Trust Company signs a $96,629, 11%, 9-month, interest-bearing note. The entry made by Trust Company on January 1 to record the proceeds and issuance of the note is: Select the correct answer. $7,972 $88,657 $96,629 $108,587 O Interest Expense Cash Notes Payable O Cash Interest Expense Notes Payable Interest Payable O Cash Interest Expense Notes Payable O Cash Notes Payable $7,972 $96,629 $3,986 $104,601 $7,972 $96,629 $96,629 $96,629 The following totals for the month of June were taken from the payroll register of Arcon Company: Salaries expense $ 10,170.00 Social security and Medicare Taxes withheld 762.75 Income Taxes withheld 288.00 Retirement Savings 443.00 The entry to record the liability for net pay would include a Select the correct answer. O Credit to Salaries Expense for $8,676.25 O Debit to Salaries Payable for $10,170.00 O Credit to Salaries Payable for $8,676.25 O Debit to Salaries Payable for $8,676.25