What the journal entry to record accrued salaries include a

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Problem 1: According to a summary of the payroll of Scotland Company, $450,000 was subject to the 6.0% social security tax and $500,000 was subject to the 1.5% Medicare tax. Federal income tax withheld was $98,000. Also, $15,000 was subject to state (4.2%) and federal (0.8%) unemployment taxes. The journal entry to record accrued salaries would include a

Option 1: debit to Salary Payable of $450,000

Option 2: credit to Salary Payable of $500,000

Option 3: credit to Salary Expense of $450,000

Option 4: debit to Salary Expense of $500,000

Reference no: EM133010677

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