Uncle Matthew's Gifts signs a three-month note payable to help finance increases in inventory for the Christmas shopping season. The note is signed on November 1 in the amount of $76800 with annual interest of 12%. What is the adjusting entry to be made on December 31 for the interest expense accrued to that date, if no entries have been made previously for the interest? 2304 Interest Expense Interest Payable 2304 1536 Interest Expense Interest Payable 1536 1536 Interest Expense Notes Payable 1536 1536 Interest Expense Cash 1536 A company shows a balance in Salaries and Wages Payable of $38300 at the end of the month. The next payroll amounting to $49000 is to be paid in the following month. What will be the journal entry to record the payment of salaries? 49000 Salaries and Wages Expense Salaries and Wages Payable 49000 O Salaries and Wages Expense 10700 Salaries and Wages Payable 38300 Cash 49000 Salaries and Wages Expense 49000 Cash 49000 Salaries and Wages Expense 10700 Cash 10700