Pronghorn Industries had a total bi-weekly payroll of $40,000. The entire payroll was subject to CPP (5.45%), EI (1.58%), and income tax withholdings of $5,280. Union dues of $500 were also withheld. Your Answer Correct Answer Prepare the journal entries on Pronghorn's books to record the wages and salaries paid and the payroll deductions. (Round answer to 2 decimal places, e.g. 52.75. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Account Titles and Explanation Salaries and Wages Expense Employee Income Tax Deductions Payable CPP Contributions Payable El Premiums Payable Union Dues Payable Cash Debit 40,000.00 Credit 5,280.00 2,180.00 632.00 500.00 31,408.00

Pronghorn Industries had a total bi-weekly payroll of $40,000. The entire payroll was subject to CPP(5.45%), EI (1.58\%), and income tax withholdings of $5,280. Union dues of $500 were also withheld. Prepare the journal entries on Pronghorn's books to record the wages and salaries paid and the payroll deductions. (Round answer to 2 decimal places, eg. 52.75. Credit account titles are outomatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.)