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For the first week of 2023 , Coby Co. pays wages of $5,000 and withholds $900 for federal income taxes and $300 for state income

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For the first week of 2023 , Coby Co. pays wages of $5,000 and withholds $900 for federal income taxes and $300 for state income taxes. The combined FICA and Medicare tax rate is 7.65%. The FUTA rate is 0.8% and the SUTA rate is 5.4%. Record the payroll: Record the payroll tax

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