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The following information about the weekly payroll was obtained from the records of Saine Co . : Line Item Description Amount Salaries: Sales salaries $

The following information about the weekly payroll was obtained from the records of Saine Co.:
Line Item Description Amount
Salaries:
Sales salaries $625,000
Warehouse salaries 240,000
Office salaries 320,000
Total $1,185,000
Deductions:
Income tax withheld $232,260
U.S. savings bonds 35,500
Group insurance 53,325
Tax rates assumed:
Social security, 6%
Medicare, 1.5%
State unemployment (employer only),5.4%
Federal unemployment (employer only),0.8%
Required:
If an amount box does not require an entry, leave it blank.
1a. Assuming that the payroll related to the first full week of the year and was paid on January 11, journalize the entry on January 11, to record the payroll.
Date Account Debit Credit
Jan. 11
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1b. Assuming that the payroll related to the first full week of the year and was paid on January 11, journalize the entry on January 11, to record the employer's payroll taxes on the payroll to be paid on January 11. Because it is a new fiscal year, all $1,185,000 in salaries is subject to unemployment compensation taxes.
Date Account Debit Credit
Jan. 11
fill in the blank 29
fill in the blank 30
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2a. Assuming that the payroll related to the last week of the year and was paid on December 31, journalize the entry on December 31, to record the payroll.
Date Account Debit Credit
Dec. 31
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2b. Assuming that the payroll related to the last week of the year and was paid on December 31, journalize the entry on December 31, to record the employers payroll taxes on the payroll for the last week of the year. Of the total payroll for the last week of the year, $30,000 is subject to unemployment compensation taxes.
Date Account Debit Credit
Dec. 31
fill in the blank 71
fill in the blank 72
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