Multiple Choice
Assuming a Medicare tax rate of 1.45% and monthly gross wages of $2,500, the amount recorded in Medicare Tax Payable for one quarter for the employee's payroll deduction is
A) a credit for $108.75.
B) a credit for $36.25.
C) a debit for $36.25.
D) a debit for $108.75.
Correct Answer:
Verified
Correct Answer:
Verified
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