Margaret Company had the following totals for the month of December for the payroll records:...
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Accounting
Margaret Company had the following totals for the month of December for the payroll records:
Salaries: $30,000
FICA taxes withheld: $2,295
Income taxes withheld: $6,600
Medical insurance deductions: $1,200
The journal entry to record the monthly payroll on April 30 would include a (***PLEASE INCLUDE FULL JOURNAL ENTRY AND EXPLAIN WHY THE ANSWER IS WHAT IT IS):
a) debit to Salaries and Wages Expense for $30,000
b) credit to Salaries and Wages Expense for $30,000
c) debit to Salaries and Wages Payable for $30,000
d) debit to Salaries and Wages Expense for $19,905
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