Redmont Company's gross salaries and wages are $50,000, and it withholds $7,500 for income taxes and $3,825 for FICA taxes, the journal entry to record the employees' pay should include a: Multiple Choice debit to Salaries and Wages Payable for $38,675. debit to Salaries and Wages Expense for $38,675. credit to Salaries and Wages Payable for $38,675. credit to Salaries and Wages Payable for $50,000.

Redmont Company's gross salaries and wages are $50,000, and it withholds $7,500 for income taxes and $3,825 for FICA taxes, the journal entry to record the employees' pay should include a: Multiple Choice debit to Salaries and Wages Payable for $38,675. debit to Salaries and Wages Expense for $38,675. credit to Salaries and Wages Payable for $38,675. credit to Salaries and Wages Payable for $50,000.

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter7: Employee Earnings And Deductions

Section: Chapter Questions

Problem 3PA

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