A company pays its one employee $3,000 per month.This companys FUTA rate is 0.8% on the first
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A company pays its one employee $3,000 per month.This company’s FUTA rate is 0.8% on the first $7,000 earned; its SUTA rate is 4.0% on the first $7,000; its Social Security tax rate is 6.2% of the first $87,000; and its Medicare tax rate is 1.45% of all amounts earned. The entry to record this company’s March payroll includes what amount for total payroll taxes expense?nkd4
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