On December 31, 2018, Santucci Company has a balance of $619.24 in the FUTA taxes payable account.
Question:
On December 31, 2018, Santucci Company has a balance of $619.24 in the FUTA taxes payable account. This represents the employer’s liability for the fourth quarter taxes. Journalize the entry Santucci Company should make in January 2019 to record the last transfer (payment) of FUTA taxes for 2018.
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