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3) Howard company paid salaries of $140,000. $65,000 of it was taxable for social security, FUTA, ISUTA (2.5%). Income taxes withheld were $15,000. Howard's employees
3) Howard company paid salaries of $140,000. $65,000 of it was taxable for social security, FUTA, ISUTA (2.5%). Income taxes withheld were $15,000. Howard's employees put $8000 in their 401(k) plans and Howard matched it. A) Write the payroll journal entry. B) Write the payroll tax and benefits journal entry
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