The Following Totals for the Month of June Were Taken

question 93

Multiple Choice

The following totals for the month of June were taken from the payroll register of Arcon Company: $$\begin{array} { l r } \text { Sal aries expense } & \$ 14,000 \\\text { Social security and Medicare taxes withheld } & 1,050 \\\text { Income taxes withheld } & 2,600 \\\text { Retirement savings } & 1,000\end{array}$$ The entry to record the payment of net pay would include a

• A) debit to salaries payable for $14,000
• B) debit to salaries payable for $9,350
• C) credit to salaries expense for $9,350
• D) credit to salaries payable for $9,350

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Definitions:

Gasoline Consumption

The total volume of gasoline used by vehicles or industries within a specific period.

Market Equilibrium

A market state where the supply of goods matches demand, with stable prices and quantities.

Area Representation

A system of electing representatives from specific geographical areas, typically used in legislative bodies.