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Assuming a Medicare tax rate of 1.45% and weekly gross wages of $2,800, the amount recorded in Medicare Tax Payable for one quarter (13 weeks)
Assuming a Medicare tax rate of 1.45% and weekly gross wages of $2,800, the amount recorded in Medicare Tax Payable for one quarter (13 weeks) for the employees payroll deduction is
A) a debit for $40.60.
B) a credit for $40.60.
C) a debit for $527.80.
D) a credit for $527.80.
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