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On March 31, the Federal Unemployment Tax Payable account in the general ledger of The Argosy Company showed a balance of $1,503. This represents the
On March 31, the Federal Unemployment Tax Payable account in the general ledger of The Argosy Company showed a balance of $1,503. This represents the FUTA tax owed for the first quarter of the year. On April 30 , the firm deposited the amount owed in the First Security National Bank. Record this transaction in general journal form. Journal entry worksheet Note: Enter debits before credits
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