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2,560 Dixon Sales has four sales employees that receive weekly paychecks. Each employee earns $16.00 per hour and has worked 40 hours in the pay
2,560 Dixon Sales has four sales employees that receive weekly paychecks. Each employee earns $16.00 per hour and has worked 40 hours in the pay period. Total federal income tax withholdings are $307.20. Each employee pays 3.0% in state income tax, 6.0% in Social Security tax, 1.5% in Medicare tax, and 0.5% toward retirement savings. Journalize the recognition of the pay period ending January 19 that will be paid to the employees on January 26. If an amount box does not require an entry, leave it blank. If required, round your answers to two decimal places. Jan. 19 Sales Wages Expense Employees Federal Income Tax Payable Employees State Income Tax Payable Social Security Tax Payable Medicare Tax Payable Retirement Savings Payable Sales Wages Payable
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