At December 31, Witts Corp. reports Salaries Payable of $20,000 on its statement of financial position....

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At December 31, Witts Corp. reports Salaries Payable of $20,000 on its statement of financial position. The next payroll amounting to $50,000 is to be paid in January. What will be the journal entry to record the payment of salaries in January? Salaries Expense 50,000 Salaries Payable 20,000 Cash 30,000 O Salaries Expense 50,000 Salaries Payable 20,000 Cash 70,000 Salaries Expense 30,000 Salaries Payable 20,000 Cash 50,000 Salaries Expense 50,000 Cash 50,000 At December 31, Witts Corp. reports Salaries Payable of $20,000 on its statement of financial position. The next payroll amounting to $50,000 is to be paid in January. What will be the journal entry to record the payment of salaries in January? Salaries Expense 50,000 Salaries Payable 20,000 Cash 30,000 O Salaries Expense 50,000 Salaries Payable 20,000 Cash 70,000 Salaries Expense 30,000 Salaries Payable 20,000 Cash 50,000 Salaries Expense 50,000 Cash 50,000

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Salaries payable on December 31 20000 Salaries paid in January ... View the full answer