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During the month of March, Crane Companys employees earned wages of $52,000. Withholdings related to these wages were $3,978 for FICA, $6,240 for federal income
During the month of March, Crane Companys employees earned wages of $52,000. Withholdings related to these wages were $3,978 for FICA, $6,240 for federal income tax, $2,600 for state income tax, and $312 for union dues. The company incurred no cost related to these earnings for federal unemployment tax but incurred $520 for state unemployment tax.
Prepare the necessary March 31 journal entry to record salaries and wages expense and salaries and wages payable. Assume that wages earned during March will be paid during April Credit account titles are automatically indented when amount is entered. Do not Indent manually Date Account Titles and Explanation Debit Credit Mar 31 Prepare the entry to record the company's payroll pense Credit accounts are automatically indeed when amanti Dondindent Date Account Titles and Explanation Mar 31 Step by Step Solution
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