Athena Company provides employee health insurance that costs $15,500 per month. In addition, the company...
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Accounting
Athena Company provides employee health insurance that costs $15,500 per month. In addition, the company contributes an amount equal to 3% of the employees' $155,000 gross salary to a retirement program. The entry to record the accrued benefits for the month would include a:
Debit to Payroll Taxes Expense $20,150. Debit to Employee Retirement Program Payable $4650. Credit to Employee Benefits Expense $15,500. Debit to Medical Insurance Payable $15,500. Debit to Employee Benefits Expense $20,150.
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