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Wolfpack Inc., a calendar year-end company. pays its employees on the last day of the month for work performed during the month. Gross salaries for
Wolfpack Inc., a calendar year-end company. pays its employees on the last day of the month for work performed during the month. Gross salaries for the month of April are $20,000. Woifpack withholds the following amounts from its employees' paychecks for this pay period . federal income tax of $4,000 e state income tax of $2,500 FICA tax of $1,630 Tax withholding are not remitted to the proper tax agencies until the 10h of the following month. Required: Answer the following two questions. Note: Do not include decimals or cents in your response Question #1: The entry to record the payment of salaries on April 30 should include a debt to the "Solanes Expense' account for how much? Answers Question #2: The entry to record the payment of salaries on April 30 should include a credit to the "Cash' account for how much? Ansvvers
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