Question

Redmont company's gross salaries and wages are $30,000, and it withholds $4,500 for income taxes and $2,000 for fica taxes, the journal entry to record the employees' pay should include a:

Answer 1

Based on the income taxes and the fica taxes, the journal entry needed to record employees' pay should include a credit to Salaries and Wages Payable for $23,500.

What journal entry would represent the date?

An amount will have to be credited to the Salaries and Wages payable account to show that the company owes wages.

The amount is:

= Gross salaries - taxes

= 30,000 - 4,500 - 2,000

= $23,500

Find out more on the Salaries and Wages Payable account at https://brainly.com/question/24074240.

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