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Jason, an employee of Fitzgerald, Inc., has gross salary for March of $4,000. The entire amount is under the OASDI limit of $118,500, and thus
Jason, an employee of Fitzgerald, Inc., has gross salary for March of $4,000. The entire amount is under the OASDI limit of $118,500, and thus subject to FICA. His year-to-date pay has already exceeded the $7,000 cap for FUTA and SUTA. Which of the following is a part of the journal entry to record the employer's payroll taxes? Select one: OA. debit to Cash B. credit to FICA-Medicare Taxes Payable O C. debit to FICA Taxes Payable O D. credit to Payroll Tax Expense
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