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Assume that the social security tax rate is 6% and the Medicare tax rate is 1.5%. In the following summary of data for a payroll
Assume that the social security tax rate is 6% and the Medicare tax rate is 1.5%. In the following summary of data for a payroll period, some amounts have been intentionally omitted: Required: a. Determine the amounts omitted in lines (1), (3), (8), and (12). b. On December 19, journalize the entry to record the payroll accrual. * c. On December 20 , journalize the entry to record the payment of the payroll." "Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is sed for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered
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