What is the purpose of the following journal entry?

DR Payroll
CR FICA Taxes payable
CR Employee income tax payable
CR Wages payable

A. To record payroll for the period
B. To accrue payroll at the end of the period
C. To record payroll taxes for the period
D. To distribute payroll for the period

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To record payroll for the period Explanation Payroll jo... View the full answer