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prepare the entries to record the transaction company has three employees, each of whom has been employed since January 1, earns $3,450 per month, and
prepare the entries to record the transaction
company has three employees, each of whom has been employed since January 1, earns $3,450 per month, and is paid on the last lay of each month. On March 1, the following accounts and balances appeared in its ledger. a. Employees' Income Taxes Payable, \$1,335.62 (liability for February). . El Payable, \$412 34 (liability for February). c. CPP Payable, $938.02 (liability for February). d. Employees' Medical Insurance Payable, $1,900.00 (liability for January and February). uring March and April, the company completed the following related to payroll. Mar. 17 Issued cheque #320 payable to the Receiver General for Canada. The cheque was in payment of the February employee ncome taxes, El, and CPP amounts due. Mar. 31 Prepared a general journal entry to record the March payroll register, which had the following column totals: Mar. 31 Recorded the employer's $475.00 liability for its 50% contribution to the medical insurance plan of employees and 6% vacation ay accrued to the employees. Mar. 31 Prepared a general journal entry to record the employer's costs resulting from the March payroll. pr. 17 Issued cheque \#545 payable to the Receiver General for Canada in payment of the March mandatory deductions. pr. 17 Issued cheque \#546 payable to All Canadian Insurance Company in payment of the employee. medical insurance premiums for he first quarterStep by Step Solution
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