Answer:
Debit to Employee Benefits Expense $22,400.
Explanation:
The entry for recording the accrued benefits for a given month which involved is shown below:
= Cost of the health insurance + contributed amount
= $16,000 + $160,000 × 4%
= $16,000 + $6,400
= $22,400
The same is to be debited to the employees benefit expense i.e. $22,400
hence, the same is to be considered
