Use This Information to Answer the Following Question The Journal Entry to Record the Monthly Payroll on November

question 181

Multiple Choice

Use this information to answer the following question. The following totals for the month of November were taken from the payroll register of Levine Company:
$\begin{array}{llr} \text { Salaries expense } &\$12,000\\ \text { Social security and Medicare taxes withheld } &550\\ \text { Income taxes withheld } &2,500\\ \text { Medical insurance deductions } &250\\ \text { Life insurance deductions } &200\\ \text { Salaries subiect to federal and state unemployment taxes of 6.2 percent} &4,000\\\end{array}$
The journal entry to record the monthly payroll on November 30 would include a

• A) debit to Salaries Expense for $12,000.
• B) debit to Salaries Payable for $12,000.
• C) credit to Salaries Payable for $12,000.
• D) debit to Salaries Expense for $8,500.

---

Definitions:

Marginal Social Cost

The cumulative expense incurred by society for creating one more unit of a product or service, encompassing both direct private costs and any external effects.

Garbage Recycled

The process of collecting, processing, and reusing materials that would otherwise be thrown away as trash.

Payment Plan

An arrangement between a seller and a buyer that allows the buyer to pay off a purchase over time in instalments.

Marginal Benefit

The extra pleasure or benefit derived from acquiring or making another unit of a product or service.