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show work please easy to read Chapter 11: Extra Credit Due: Friday February 28, 2020 1. Parrish Sales has two employees, Ana and Michael. Ana's

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Chapter 11: Extra Credit Due: Friday February 28, 2020 1. Parrish Sales has two employees, Ana and Michael. Ana's and Michael's gross annual salary for 2020 was 118,000 and 204,000 respectively. The company pays 80% of their employees' health premiums, while each employee is responsible for the other 20%. Ana paid 10,000 in health premiums, while Michael paid 15,000. The OASDI (social security) limit for 2020 is 137,700, and thus subject to FICA. Both employees are subject to federal and state income taxes. Assume that Ana's federal tax rate is 30%, and Michael's rate is 35%. Both are subject to NYS tax rate of 6%; FICA-OASDI Tax of 6.2% and FICA-Medicare Tax of 1.45% for the first 200,000 and 2.35% for any amount above 200,000. A) Prepare the journal entries to record salaries expense and payroll withholdings. (3 Points) B) Prepare the journal entry to record Parrish Sales Payroll expenses for 2020. (3 Points) You must show all calculations

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