Chakra Shop is making its weekly payroll journal entry. They debit Wages Expense for $5,123 (all wages

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Chakra Shop is making its weekly payroll journal entry. They debit Wages Expense for $5,123 (all wages are susceptible to FICA and FIT - the only taxes/withholdings for their payroll). Employees FIT Payable account = $480. What is the credit to cash to record the payment of wages and associated liabilities for withholdings? a. $4,731.09 b. $4,251.09 c. $5,123.00 d. $871.91

Posted Date: May 18, 2024 06:09 AM

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Chakra Shop is making its weekly payroll journal entry. They debit Wages Expense for $5,123 (all wages

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