The following totals for the month of April were taken from the payroll register of Asplend Company. $$\begin{array} { l r }
\text { Salaries and wages } & \$ 72,000 \
\text { FICA taxes withheld } & 5,508 \
\text { Income taxes withheld } & 15,000 \
\text { Medical insurance deductions } & 2,700 \
\text { Federal unemployment taxes } & 192 \
\text { State unemployment taxes } & 1,296
\end{array}$$ The journal entry to record the monthly payroll on April 30 would include a

Question

The following totals for the month of April were taken from the payroll register of Asplend Company. $$\begin{array} { l r } 
\text { Salaries and wages } & \$ 72,000 \
\text { FICA taxes withheld } & 5,508 \
\text { Income taxes withheld } & 15,000 \
\text { Medical insurance deductions } & 2,700 \
\text { Federal unemployment taxes } & 192 \
\text { State unemployment taxes } & 1,296
\end{array}$$ The journal entry to record the monthly payroll on April 30 would include a

Quizplus · Accepted Answer

BThe correct journal entry to record the monthly payroll includes debiting Salaries and Wages Expense for the total amount of salaries and wages ($72,000) to recognize the expense. Then, you credit Salaries and Wages Payable for the same amount ($72,000) to recognize the liability to pay these amounts.

The Following Totals for the Month of April Were Taken