Abe Carter had gross earnings of $6,000 for the pay period ending 11/30. His total gross earnings as of 11/15 were $116,000. If Social Security taxes are 6.2% on a maximum earnings of $122,700 per year and Medicare tax is 1.45% on all earnings, the journal entry to record his earnings for the period ending 11/30 would include:

A) a credit to Salaries Expense for $6,000

B) a credit to Medicare Tax Payable for $87.00

C) a credit to FICA Tax Payable for $87.00

D) a credit to Medicare Tax Payable for $36.25gs of $6,000 for the pay period ending 11/30. His total gross

Answer rating: 100% (QA)

The correct answer is B a c... View the full answer