For the payroll period ended on May 28, 2022, gross pay was $119,000, net pay was $91,000, FICA tax withholdings were $7,000, income tax withholdings were $17,000, and medical insurance contributions were $4,000. Required: Use the horizontal model to show the effects of the payroll accrual on May 28, 2022. Note: Enter decreases with a minus sign to indicate a negative financial statement effect.

For the payroll period ended on May 28, 2022, gross pay was $119,000, net pay was $91,000, FICA tax withholdings were $7,000. income tax withholdings were $17,000, and medical insurance contributions were $4,000. Required: Use the horizontal model to show the effects of the payroll accrual on May 28,2022. Note: Enter decreases with a minus sign to indicate a negative financial statement effect