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Mastering Payroll 2020 - Section 10- PAYROLL ENTRIES 1. On February 13, ABC Corporation pays 20 employees total wages of $50,000, withholding $12,300 FIT, $3,825
Mastering Payroll 2020 - Section 10- PAYROLL ENTRIES
1. On February 13, ABC Corporation pays 20 employees total wages of $50,000, withholding $12,300 FIT, $3,825 FICA and $200 union dues. FUTA is $370.
Prepare the following journal entries: a. Payment of employee salaries, including deductions. b. ABC Corporation remits its payroll taxes c. ABC Corporation remits employee union dues
Please show work, thank you.
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