Assuming a Medicare tax rate of 1.45% and monthly gross wages of $2,500, the amount recorded in

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Assuming a Medicare tax rate of 1.45% and monthly gross wages of $2,500, the amount recorded in Medicare Tax Payable for one quarter for the employee's payroll deduction is:

A. a debit for $36.25.

B. a credit for $36.25.

C. a debit for $108.75.

D. a credit for $108.75.

Related Book For answer-question

College Accounting

ISBN: 978-1111528126

11th edition

Authors: Tracie Nobles, Cathy Scott, Douglas McQuaig, Patricia Bille

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Posted Date: Feb 21, 2024 04:46 AM

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Assuming a Medicare tax rate of 1.45% and monthly gross wages of $2,500, the amount recorded in

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College Accounting

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