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Nicole Smith earns $2,500 in gross pay. She has $250 in federal withholding, $75 in state withholding and 7.65% in social security and Medicare taxes

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Nicole Smith earns $2,500 in gross pay. She has $250 in federal withholding, $75 in state withholding and 7.65% in social security and Medicare taxes (FICA) withheld. Record her payroll on the accounting equation. Assets Liabilities Stockholders' Equity

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