On October 14, Cross Eyeglasses had a balance of $4,560.00 in its Social Security tax payable account
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Question:
On October 14, Cross Eyeglasses had a balance of $4,560.00 in its Social Security tax payable account and $1,196.69 in its Medicare Tax Payable account. It posted credit entries of $4,560.00 to Social Security tax payable and $1,196.69 to Medicare tax payable on its October 31 pay date. If Cross Eyeglasses is a monthly schedule depositor, what entry should appear on November 15 for the remittance of the month's FICA taxes?
Credit $5,756.69
Debit $11,513.38
Credit $1,196.69
Debit $4,560.00
Related Book For
College Accounting A Contemporary Approach
ISBN: 978-0077639730
3rd edition
Authors: David Haddock, John Price, Michael Farina
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