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Ron is an employee of Panache, Inc. Panache pays a portion of his health insurance premium and also contributes to a retirement plan in his

Ron is an employee of Panache, Inc. Panache pays a portion of his health insurance premium and also contributes to a retirement plan in his name. The company's share of the health insurance premium is $600, and the company's contribution to the retirement plan is $860. The journal entry to record the employee benefits to be paid by the company should include a debit to Employee Health Insurance Payable for $1,460. True False

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