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The following totals for the month of June were taken from the payroll register of Arcon Company: Salaries expense $ 11,740.00 Social security and Medicare
The following totals for the month of June were taken from the payroll register of Arcon Company:
Salaries expense | $ 11,740.00 |
Social security and Medicare Taxes withheld | 880.50 |
Income Taxes withheld | 338.00 |
Retirement Savings | 489.00 |
The entry to record the liability for net pay would include a
Select the correct answer.
Debit to Salaries Payable for $11,740.00
Debit to Salaries Payable for $10,032.50
Credit to Salaries Expense for $10,032.50
Credit to Salaries Payable for $10,032.50
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