Athena Company Provides Employee Health Insurance That Costs $5,000 Per

Multiple Choice

Athena Company provides employee health insurance that costs $5,000 per month. In addition, the company contributes an amount equal to 5% of the employees' $120,000 gross salary to a retirement program. The entry to record the accrued benefits for the month would include a:

A) Debit to Medical Insurance Payable $5,000.
B) Debit to Employee Benefits Expense $11,000.
C) Credit to Employee Benefits Expense $11,000.
D) Debit to Employee Retirement Program Payable $6,000.
E) Debit to Payroll Taxes Expense $11,000.