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On December 31, Reuter Company has a balance of $118.00 in the FUTA taxes payable account. This represents the employer's liability for the fourth quarter
On December 31, Reuter Company has a balance of $118.00 in the FUTA taxes payable account. This represents the employer's liability for the fourth quarter taxes. 
Account Debit Credit FUTA Taxes Payable Cash Journalize the entry Reuter Company should make in January to record the last transfer (payment) of FUTA taxes.
If an amount box does not require an entry, leave it blank.
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Dynamical Corporate Finance
Authors: Umberto Sagliaschi, Roberto Savona
1st Edition
3030778525, 9783030778521
