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What am I missing, please help!! On January 15, the end of the first pay period of the year, North Company's employees earned $48,000 of
What am I missing, please help!!
On January 15, the end of the first pay period of the year, North Company's employees earned $48,000 of sales salaries. Withholdings from the employees' salaries include FICA Social Security taxes at the rate of 6.2%, FICA Medicare taxes at the rate of 1.45%, $3,100 of federal income taxes, $1,037 of medical insurance deductions, and $130 of union dues. No employee earned more than $7,000 in this first period. Prepare the journal entry to record North Company's January 15 salaries expense and related liabilities. Answer is not complete. No Debit Credit No 1 Date Jan 15 48,000 General Journal Salaries expense FICASocial sec. taxes payable FICAMedicare taxes payable Employee fed. inc. taxes payable Employee medical insurance payable Employee union dues payable 2,976 696 3,100 1,037 130Step by Step Solution
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