Record the journal entries for each of the following payroll transactions. Apr. 2 Apr. 4 Apr. 11
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Record the journal entries for each of the following payroll transactions.
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Apr. 2 Apr. 4 Apr. 11 Apr. 14 Apr. 22 Paid $650 and $340 cash to a federal depository for FICA Social Security and FICA Medicare, respectively Paid accumulated employee salaries of $15,220 Issued checks in the amounts of $480 for federal income tax and $300 for state income tax to an IRS-approved bank Paid cash to health insurance carrier for total outstanding health insurance liability of $800 Remitted cash payments for FUTA and SUTA to federal and state unemployment agencies in the amounts of $130 and $250, respectively
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Related Book For
Principles Of Accounting Volume 1 Financial Accounting
ISBN: 9781593995942
1st Edition
Authors: Mitchell Franklin, Patty Graybeal, Dixon Cooper, OpenStax
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A journal entry is an act of keeping or making records of any transactions either economic or non-economic. Transactions are listed in an accounting journal that shows a company\'s debit and credit balances. The journal entry can consist of several recordings, each of which is either a debit or a credit
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