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a. During the year 20X1. Sampson Company had net credit sales of $960,000. Past experience shows that 0.5 percent of the firm's net credit sales

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a. During the year 20X1. Sampson Company had net credit sales of $960,000. Past experience shows that 0.5 percent of the firm's net credit sales result in uncollectible accounts. b. Equipment purchased by Park Consultancy for $26.600 on January 2, 20x1, has an estimated useful life of 8 years and an estimated salvage value of $1,800 What adjustment for depreciation should be recorded on the firm's worksheet for the year ended December 31, 20X1? c. On December 31, 20x1, Giant Plumbing Supply owed wages of $6,600 to its factory employees, who are paid weekly d. On December 31, 20x1, Giant Plumbing Supply owed the employer's social security (6.2 percent) and Medicare (1.45 percenttaxes on the entire $6,600 of accrued wages for its factory employees. e. On December 31, 20X1, Giant Plumbing Supply owed federal (0.6 percent) and state (5.4 percent) unemployment taxes on the entire $6,600 of accrued wages for its factory employees. For each of the above independent situations, prepare the adjusting entries that must be made on the December 31, 20X1. worksheet (Round your answers to 2 decimal places.) Vim transaction list Journal entry worksheet 1 2 3 4. 5 > X 1 Record an adjusting entry for uncollectible accounts. 2 Record an adjusting entry for depreciation. 3 Record an adjusting entry for wages owed. 4 Record an adjusting entry for social security and medicare taxes owed. 5 Record an adjusting entry for federal and state unemployment taxes owed. Note : = journal entry has been entered Record entry Clear entry Vi

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