For the payroll period ended on May 28, 2022, gross pay was $119,000, net pay was $91,000,

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For the payroll period ended on May 28, 2022, gross pay was $119,000, net pay was $91,000, FICA tax withholdings were $7,000, income tax withholdings were $17,000, and medical insurance contributions were $4,000.

Required:
Use the horizontal model (or write the journal entry) to show the effects of the payroll accrual on May 28, 2022.

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Accounting What The Numbers Mean

ISBN: 9781264126743

13th Edition

Authors: David Marshall

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Question Posted: Oct 18, 2022 03:14 AM

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For the payroll period ended on May 28, 2022, gross pay was $119,000, net pay was $91,000,

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Accounting What The Numbers Mean

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