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Please correct the answer Kashi Sales, L.L.C., produces healthy, whole-grain foods such as breakfast cereals, frozen dinners, and granola bars. Assume payro for the month
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Kashi Sales, L.L.C., produces healthy, whole-grain foods such as breakfast cereals, frozen dinners, and granola bars. Assume payro for the month of January was $430,000 and the following withholdings, fringe benefits, and payroll taxes apply: Assume that Kashi has paid none of the withholdings or payroll taxes by the end of January (record them as payables), and no employee's cumulative wages exceed the relevant wage bases. Required: 1. Record the employee salary expense, withholdings, and salaries payable. 2. Record the employer-provided fringe benefits. 3. Record the employer payroll taxes. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)Step by Step Solution
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