The account that is credited for the Medicare tax withheld from employee's earnings and the Medicare tax imposed on the employer is

Name: The account that is credited for the Medicare tax withheld from employee's earnings and the Medicare tax imposed on the employer is
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Question

Quizplus · Accepted Answer

Medicare tax withheld from employee's earnings and the Medicare tax imposed on the employer are both liabilities until they are remitted to the government. Therefore, the account that is credited for these taxes is Medicare Tax Payable.

The Account That Is Credited for the Medicare Tax Withheld