Wages are S37,500 per week for a five-day workweek, ending on Friday. The last payday of the year was Friday, June 26. Which of the following is correct for the reversing entry on July 1? O O O O debit Salaries Expense for S15,000 credit Salaries Payable for $15,000 debit Salaries Payable for $37,500 credit Salaries Expense for $15,000 Wages are $37,500 per week for a five-day workweek, ending on Friday. The last payday of the year was Friday, June 26. Determine the balance in Salaries Expense on July 1 after reversing entries have been journalized and posted to the ledger. O O O O debit balance of S37,500 credit balance of $15,000 debit balance of S15,000 credit balance of S7,500