Suppose your company sells services for $475 cash this month. Your company also pays $325 in salaries and wages, which includes $165 that was payable at the end of the previous month and $160 for salaries and wages of this month. E12-3 (Algo) Part 1 Required: 1. Prepare the journal entries to record these transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)