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1. Journalize the entry to record the payroll. 2. Journalize the entry to record the employer's payroll taxes. 3. Journalize the entry to deposit the
1. Journalize the entry to record the payroll.
2. Journalize the entry to record the employer's payroll taxes.
3. Journalize the entry to deposit the FICA and FIT taxes.
from Employees' Earning Under Taxable Earnings *Applicable tax rate Totals Total payroll taxes \begin{tabular}{|r|r|r|r|} \hline 5925 & 7425 & 1190 & 1340 \\ \hline 6.20% & 1.45% & 0.60% & 2.80% \\ \hline 367.35 & 107.66 & 7.14 & 37.52 \\ \hline 734.7 & 215.35 & 7.14 & 44.24 \\ \hline \end{tabular}Step by Step Solution
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