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How would I log this journal entry? I've been told not to because they're not employed yet, and some say to still log it anyway.
How would I log this journal entry? I've been told not to because they're not employed yet, and some say to still log it anyway. Sorry I'm confused.
Journal Entry #2 Ed Mason, the CEO, hires 4,ooo employees, whom will receive a combined salary of $6.5 Million on a monthly basis. The employees started on January 1st and will be paid for the month of January on February 5th Employees withholdings are as follows: 10% for federal income taxes 5% for state income taxes and 7% for FICA Record the necessary entry as of January 1st, 2019
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