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A D G H N 0 P E10.6 During the month of March, Munster Company's employees earned wages of $64,000. Withholdings related to these wages
A D G H N 0 P E10.6 During the month of March, Munster Company's employees earned wages of $64,000. Withholdings related to these wages were $4,896 for FICA, $7,500 for federal income tax, $3,100 for state income tax. The company is required to match the FICA taxes withheld. All wages are paid with cash. Taxes are "owed" at month end. Instructions: Journalize payroll entries. CHECK FIGURE: Cash-$48,504
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