I need this question answer general Accounting Assuming a Medicare tax rate of 1.45% and monthly gross wagesof $2,500, the amount recorded in Medicare Tax Payable for onequarter for the employee's payroll deduction is:A. a debit for $36.25.B. a credit for $36.25.C. a debit for $108.75.D. a credit for $108.75.

Step 1: Define Medicare TaxA Medicare tax, also called hospital insurance tax is a charge on the…

Answered: Assuming a Medicare tax rate of 1.45%…

College Accounting (Book Only): A Career Approach

12th Edition

ISBN:9781305084087

Author:Cathy J. Scott

Publisher:Cathy J. Scott

Chapter7: Employee Earnings And Deductions

Section: Chapter Questions

Problem 5E

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Am. 111.
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Assuming a Medicare tax rate of 1.45% and monthly gross wages of $2,500, the amount recorded in Medicare Tax Payable for one quarter for the employee's payroll deduction is: A. a debit for $36.25. B. a credit for $36.25. C. a debit for $108.75. D. a credit for $108.75.