At the time that wages are paid, an advance payment of EIC would be recorded as:

At the time that wages are paid, an advance payment of EIC would be recorded as:
A . Debit FIT payable, credit cash
B. Debit cash, credit EIC payable
C. Debit EIC payable, credit FICA payable
D. Debit EIC payable, credit cash

View Answer

Answer: D