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Payroll Entries The payroll register for Schmidt Company for the week ended April 29 indicated the following: Salaries $1,380,000 Social security tax withheld 82,800 Medicare
Payroll Entries The payroll register for Schmidt Company for the week ended April 29 indicated the following: Salaries $1,380,000 Social security tax withheld 82,800 Medicare tax withheld 20,700 Federal income tax withheld 276,000 In addition, state and federal unemployment taxes were computed at the rate of 5.4% and 0.6%, respectively, on $245,000 of salaries. a. Journalize the entry to record the payroll for the week of April 29. If an amount box does not require an entry, leave it blank. b. Journalize the entry to record the payroll tax expense incurred for the week of April 29. If an amount box does not require an entry, leave it blank
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