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Instructions Chart of Accounts Journal Instructions The payroll register of Heritage Co. Indicates $13,320 of social security withheld and $3,330 of Medicare tax withheld on

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Instructions Chart of Accounts Journal Instructions The payroll register of Heritage Co. Indicates $13,320 of social security withheld and $3,330 of Medicare tax withheld on total salaries of $222,000 for the period. Federal withholding for the period totaled $43,180. Retirement savings withheld from employee paychecks were $2,040 for the period. Journalize the entry to record the period's payroll. Refer to the Chart of Accounts for exact wording of account titles. Instructions Chart of Accounts ASSETS REVENUE 110 Cash 410 Sales 111 Accounts Receivable 610 Interest Revenue 112 Interest Receivable EXPENSES 113 Notes Receivable 115 Inventory 116 Supplies 118 Prepaid Insurance 120 Land 123 Building 124 Accumulated Depreciation-Building 510 Cost of Goods Sold 520 Salaries Expense 524 Depreciation Expense-Building 525 Delivery Expense 526 Repairs Expense 529 Selling Expenses 125 Office Equipment 126 Accumulated Depreciation Office Equipment 531 Rent Expense 532 DApreciation Expense-Office Equip 533 Insurance Expense 534 Supplies Expense 535 Payroll Tax Expense 536 Vacation Pay Expense LIABILITIES 210 Accounts Payable 213 Interest Payable Chart of Accounts 537 Pension Expense 214 Notes Payable 538 Cash Short and Over 215 Salaries Payable 216 Social Security Tax Payable 539 Product Warranty Expense 540 Miscellaneous Expense 710 Interest Expense 217 Medicare Tax Payable 218 Employees Federal Income Tax Payable 219 Employees State Income Tax Payable 221 Retirement Savings Deductions Payable 224 Federal Unemployment Tax Payable 225 State Unemployment Tax Payable 226 Vacation Pay Payable 227 Unfunded Pension Liability 228 Product Warranty Payable EQUITY 310 Common Stock 311 Retained Earnings 312 Dividends Journal On December 31, journalize the entry to record the period's payroll. Refer to the Chart of Accounts for exact wording of account titles. JOURNAL ACCOUNTING EQT DATE DESCRIPTION POST. REF. 1 DEBIT CREDIT ASSETS LIABILITIES 2 3 4 6

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