The amount recorded for Payroll Taxes and Benefits Expense is borne entirely by the employee.

Question

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Payroll Taxes and Benefits Expense are costs borne by both the employer and the employee. Payroll taxes, such as Social Security and Medicare taxes, are split between the employee and employer. Benefits expenses, such as health insurance and retirement contributions, may also be split between the employer and employee or solely covered by the employer.

The Amount Recorded for Payroll Taxes and Benefits Expense Is