The following totals for the month of June were taken from the payroll register of Arcon Company:
Salaries expense $14,000
Social security and Medicare Taxes withheld 975
Income Taxes withheld 2,600
Retirement Savings 1,000
The entry to record the payment of net pay would include a
Credit to Salaries Payable for $9,425
Debit to Salaries Payable for $14,000
Debit to Salaries Payable for $9,425
Credit to Salaries Expense for $9,425
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