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what would be the journal entry as well? Required Information Use the following information for the Exercises below. (Algo) [The following informotion opplies to the
what would be the journal entry as well?
Required Information Use the following information for the Exercises below. (Algo) [The following informotion opplies to the questions disployed below.] BMX Compony has one employee. FICA Sociel Security taxes are 6.2% of the first $137,700 paid to its employee, and FICA Medicare taxes are 1.45% of gross pay. For BMX, its FUTA toxes are 0.6% and SUTA toxes are 5.4% of the first $7,000 poid to its employee. Exerclse 9-8 (Algo) Payroll-related Journal entrles LO P2 Assuming situation (a), prepore the employer's September 30 journal entry to record salary expense and its related payroll liabilities fo this employee. The employee's federal income taxes withheld by the employer are $90 for this poy period. Complete this question by entering your answers in the tabs below. The employee's federal income taxes withheld by the employer are $90 for this pay period. Assuming situation (a), compute the taxes to be withheld from gross pay for this employee. (Round your answers to 2 decimal places.)Step by Step Solution
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