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Questions, Classroom Demonstration Exercises, Exercises, and Problems P11-2C. The Ripcord Parachute Club of Burlington employs three people and pays them on a weekly basis. Payroll
Questions, Classroom Demonstration Exercises, Exercises, and Problems P11-2C. The Ripcord Parachute Club of Burlington employs three people and pays them on a weekly basis. Payroll data for the four weeks in February 2021 are shown below. Week 1-February Week 2-February Week 3-February Week 3-February Week 4-February Calculating remittances (1) (2) (60min) Questions, Classroom Demonstration Exercises, Exercises, and Problems Assumptions Employees pay 100% of the cost of long-term disability (LTD). Employees contribute just over 5% of their salary to the pension plan; the employer contributes 6% of the employees' salary to the plan. Medical cost is split 50/50 by employees and employer. All payroll-related deductions are paid on the 15th of March. Questions, Classroom Demonstration Exercises, Exercises, and Problems of their salary to the pension plan; the employer contributes 6% of the employees' salary to the plan. Medical cost is split 50/50 by employees and employer. All payroll-related deductions are paid on the 15th of March. Required Recording employee benefits expense-multiple periods a. While recording the payroll journal in February, the bookkeeper for the Ripcord Parachute Club did not record any expense for employee benefits. Give the four journal entries that should be made for the month to record this expense
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