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The payroll summary for December 31 for Waters Co. revealed total earnings of $80,000. Assume all earnings were subject to 6.0% social security tax and
The payroll summary for December 31 for Waters Co. revealed total earnings of $80,000. Assume all earnings were subject to 6.0% social security tax and 1.5% Medicare tax, and earnings of $3,000 were subject to 4.3% state and 0.8% federal unemployment compensation tax. Journalize the entry for the employers payroll tax expense
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