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The following totals for the month of June were taken from the payroll register of Arcon Company: Salaries expense $12,950.00 Social security and Medicare taxes
The following totals for the month of June were taken from the payroll register of Arcon Company: Salaries expense $12,950.00 Social security and Medicare taxes withheld 971.25 Income taxes withheld 318.00 Retirement savings 412.00 The entry to record the payment of net pay would include a x Oa. credit to Salaries Payable for $11,248.75. Ob. credit to Salaries Expense for $11,248.75. Oc. debit to Salaries Payable for $12,950.00. Od. debit to Salaries Payable for $11,248.75
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