For the payroll period ended on June 25, 2019, gross pay was $11,650, net pay was $9,200, FICA tax withholdings were $700, income tax withholdings were $1,400, and medical insurance contributions were $350.

Required:

Use the horizontal model to show the effects of the payroll accrual on June 25, 2019. Indicate the financial statement effect. (Enter decreases with a minus sign to indicate a negative financial statement effect.)

Drop Downs: Box 1 in each column, options are: Wages Expense, Wages Payable, Withholding Liabilities

Income Statement Balance Sheet Revenues Assets Liabilities Stockholders' Equity Net income Expenses Wages expense Wages payable Withholding liabilities