The Payroll records of Oregon Mist contained the following information for the month of November: Salaries $ 350,000 FICA Taxes (including Social Security and Medicare) 21,700 Federal Unemployment Taxes 3,500 State Unemployment Taxes 1,750 The journal entry to record the monthly Payroll Tax Expense would include a: A. debit to Payroll Tax Expense of $25,200. B. credit to FICA Taxes Payable of $43,400. C. debit to Payroll Tax Expense of $48,650. D. debit to Payroll Tax Expense of $26,950.

Martha is one producer in the perfectly competitive jelly industry. last year, martha and all of her competitors found themselves earning economic profits. if there is free entry and exit, what do you expect to happen to the number of suppliers in the industry and the price of jelly? the number of suppliers will increase, and the price of jelly will fall. the number of suppliers will decrease, and the price of jelly will increase. the number of suppliers will increase, and the price of jelly will increase. the number of suppliers will decrease, and the price of jelly will fall.