Let's continue with the last transaction, suppose Smith Company's one month salary is $300 000, which one of the following is the correct journal entries that Smith Company will prepare on February 15?
A.
Salary Payable 150 000 Salary Expense 150 000
B.
Salary Expense 150 000 Cash 150 000 Salary Payable 300 000
C.
Salary Expense 300 000 Cash 150 000 Salary Payable 150 000
D.
Salary Expense 150 000 Salary Payable 150 000 Cash 300 000