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Jax Company's (a monthly depositor) tax liabilty (amount withheld from employees' wages for federal income tax and FICA tax plus the company's portion of the
Jax Company's (a monthly depositor) tax liabilty (amount withheld from employees' wages for federal income tax and FICA tax plus the company's portion of the FICA rax) for July was $1210. No deposit was made by the company until August 24, (9days late). the interest on taces due and unpaid (assume a 4% interest rate)
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