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22) 22) Ben Inc. recently signed a $350,000, six-month note on August 22, 2013. The interest rate is 6.5%. How much total interest will be

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22) 22) Ben Inc. recently signed a $350,000, six-month note on August 22, 2013. The interest rate is 6.5%. How much total interest will be due on the note at maturity? A) $7,583 B) $22,750 C) $11,375 D) $9,479 23) 23) Art Parrish, the sole employee of Parrish Sales, has gross salary for March of $4,000. The entire amount is under the OASDI limit of $110,100, and thus subject to FICA. His year-to-date pay has already exceeded the $7,000 cap for FUTA and SUTA. Which of the following is a part of journal entry in the payroll cycle to record the employer's payroll taxes? A) credit to Payroll Tax Expense B) debit to Payroll Tax Expense C) debit to FICA Tax Payable D) debit to Cash

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