Multiple Choice
Abe Carter had gross earnings of $6,000 for the pay period ending 11/30.His total gross earnings as of 11/15 were $112,000.If Social Security taxes are 6.2% on a maximum earnings of $113,700 per year and Medicare tax is 1.45% on all earnings,the journal entry to record his earnings for the period ending 11/30 would include:
A) a credit to Salaries Expense for $6,000
B) a credit to Medicare Tax Payable for $870.00
C) a credit to Social Security Tax Payable for $87.00
D) a credit to Medicare Tax Payable for $87.00
Correct Answer:

Verified
Correct Answer:
Verified
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