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Exercise 10.7 (Algo) Journalizing payroll transactions. LO 10-7 On July 31, the payroll register for White Sales Company showed the following totals for the
Exercise 10.7 (Algo) Journalizing payroll transactions. LO 10-7 On July 31, the payroll register for White Sales Company showed the following totals for the month: gross earnings, $39,000; social security tax, $2,418.00; Medicare tax, $565.50; income tax, $3,087.64; and net amount due, $32,928.86. Of the total earnings, $30,838.46 was for sales salaries and $8,161.54 was for office salaries. Prepare a general journal entry to record the monthly payroll of the firm on July 31. (Round your final answers to 2 decimal places.) View transaction list Journal entry worksheet 1
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