The entry to record the payment of taxes withheld from employees and FICA taxes would be to:
A) credit Cash; debit FICA-Social Security Payable,FICA-Medicare Payable,and Federal Income Tax Payable.
B) debit Cash; credit FICA-Social Security Payable,FICA-Medicare Payable,and Federal Income Tax Payable.
C) credit Cash; credit FICA-Social Security Payable,FICA-Medicare Payable,and Federal Income Tax Payable.
D) None of these answers are correct.
Correct Answer:
Verified
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A)revenue.
B)liability.
C)asset.
D)expense.
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