Ra Chapter 3 (Protected View) - Word (Unlicensed Product) References Mailings Review View Help Tell me what you want to do he Internet can contain viruses. Unless you need to edit, it's safer to stay in Protected View. Enable Editing Word have been disabled. Reactivate A company shows a balance in Salaries and Wages Payable of $34,000 at the end of the month. The next payroll amounting to $50,000 is to be paid in the following month. What will be the journal entry to record the payment of salaries? a. Salaries and Wages Expense 40) 50,000 b. Salaries and Wages Expense. c. Salaries and Wages Expense. d. Salaries and Wages Expense .. Salaries and Wages Payable... Cash Cash 50,000 50,000 16,000 ...16,000 16,000 34,000 Salaries and Wages Payable Cash 50,000 A business pays weekly salaries of $35,000 on Friday for a five-day week ending on that day. The adjusting entry necessary at the end of the fiscal period ending on a Wednesday is a. debit Salaries and Wages Payable, $21,000; credit Cash, $21,000. b. debit Salaries and Wages Expense, $21,000; credit Cash, $21,000. c. debit Salaries and Wages Expense, $21,000; credit Salaries and Wages Payable, 41). $21,000. d. debit Salaries and Wages Expense, $14,000; credit Salaries and Wages Payable. $14,000. RockNRoll Music Store borrowed $24,000 from the bank signing a 5%, 3-month note on September 1. Principal and interest are payable to the bank on December 1. If the 42) prepares monthly financial statements, the adjusting entry that the company should make for interest on September 30, would be a. Debit Interest Expense, $1,200; Credit Interest Payable, $1,200. b. Debit Interest Expense, $100; Credit Interest Payable, $100. c. Debit Notes Payable, $1.200; Credit Cash, $1,200. d. Debit Cash, $300; Credit Interest Payable, $300