The following totals for the month of June were taken from the payroll register
ID: 2346779 • Letter: T
Question
The following totals for the month of June were taken from the payroll register of Ford Company.Salaries and wages $40,000
FICA taxes withheld 3,066
Income taxes withheld 8,800
Medical insurance deductions 1,600
Federal unemployment taxes 320
State unemployment taxes 2,000
The entry to record the payment of net payroll would include a
credit to Cash for $24,534.
debit to Salaries and Wages Payable for $24,214.
debit to Salaries and Wages Payable for $26,534.
debit to Salaries and Wages Payable for $24,534.
Explanation / Answer
debit to Salaries and Wages Payable for $26,534.
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