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Journalize Period Payroll The payroll register of Castilla Engineering Co. indicates $1,680 of social security withheld and $420 of Medicare tax withheld on total salaries
Journalize Period Payroll The payroll register of Castilla Engineering Co. indicates $1,680 of social security withheld and $420 of Medicare tax withheld on total salaries of $28,000 for the period. Federal withholding for the period totaled $4,760. Retirement savings withheld from employee paychecks were $2600 for the period. Provide the journal entry for the period's payroll. If an amount box does not require an entry, leave it blank. Salaries Expense Social Security Tax Payable Medicare Tax Payable Employees Federal Income Tax Payable Retirement Savings Deductions Payable Salaries Payable Journalizing installment Notes On the first day of the fiscal year, a company issues $58,000, 10%, six-year installment notes that have annual payments of $13,317. The first note payment consists of $5,800 of interest and $7,517 of principal repayment. a. Journalize the entry to record the issuance of the installment notes. b. Journalize the first annual note payment. If an amount box does not require an entry, leave it blank
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