Question
The summary of the payroll for the monthly pay period ending July 15 indicated the following: a. Journalize the entry to record the payroll. For
The summary of the payroll for the monthly pay period ending July 15 indicated the following:
a. Journalize the entry to record the payroll. For a compound transaction, if an amount box does not require an entry, leave it blank or enter "0".
b. Journalize the entry to record the employer's payroll tax expense for the month. The state unemployment tax rate is 3.1%, and the federal unemployment tax rate is 0.8%. Only $25,000 of salaries are subject to unemployment taxes. For a compound transaction, if an amount box does not require an entry, leave it blank or enter "0".
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