Rushing River Boats has the following data in its Social Security tax payable General Ledger account: Social Security tax payable ACCOUNT NO. 221
BALANCE
DATE DESCRIPTION POST REF. DEBIT CREDIT DEBIT CREDIT
Jan 31 J4 420 1,620
Feb 15 J5
It is a monthly schedule depositor. What entry should appear in the General Ledger to reﬂect the tax
Remittance on February 15?
A) Debit $1,620
B) Credit $1,620
C) Debit $420
D) Credit $420

Question

Quizplus · Accepted Answer

The entry should be a debit of $1,620 to reduce the Social Security tax payable account, reflecting the payment made to remit the tax.

Rushing River Boats Has the Following Data in Its Social