Kinga International pays its employees $500,000. If the Social Security Tax is 6.20%, the Medicare Tax is 1.45%, and Income Tax Withholdings amount to 15.00%, which of the following would be included in the SUMMARY JOURNAL ENTRY (ignoring any other tax)? 

CREDIT Compensation Payable $613,250 

CREDIT Medicare Tax Payable $14,500 

DEBIT Social Security Tax Payable $62,000 

DEBIT Cash $500,000 

CREDIT Compensation Expense $538,250 

DEBIT Social Security Tax Payable $31,000