1.66 LO 5 points Book Lightning Electronics is a midsize manufacturer of lithium batteries. The company's...

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1.66 LO 5 points Book Lightning Electronics is a midsize manufacturer of lithium batteries. The company's payroll records for the November 1-14 pay period show that employees earned wages totaling $50,000 but that employee income taxes totaling $7,000 and FICA taxes totaling $2,625 were withheld from this amount. The net pay was directly deposited into the employees' bank accounts. Assume Lightning Electronics also must pay $250 of unemployment taxes for this pay period. Prepare the journal entry or entries that Lightning would use to record the payroll. Include both employee and employer taxes. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) References View transaction list Mc Gran Journal entry worksheet Record the wages expense for November 1-14 time period, including payroll deductions. Note: Enter debits before credits Transaction 1 Generel Journal Debit Credit < Prev 5 of 6 Next > Check my work 5 166 points eBook Lightning Electronics is a midsize manufacturer of lithium batteries. The company's payroll records for the November 1-14 pay period show that employees earned wages totaling $50,000 but that employee income taxes totaling $7,000 and FICA taxes totaling $2.625 were withheld from this amount. The net pay was directly deposited into the employees' bank accounts. Assume Lightning Electronics also must pay $250 of unemployment taxes for this pay period. Prepare the journal entry or entries that Lightning would use to record the payroll. Include both employee and employer taxes. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Mc Graw View transaction list Journal entry worksheet < A Record the payroll tax expense. Note: Enter debits before credits Transaction General Journal Debit Credit < Prey 5 of 6 Next > Check my work 1.66 LO 5 points Book Lightning Electronics is a midsize manufacturer of lithium batteries. The company's payroll records for the November 1-14 pay period show that employees earned wages totaling $50,000 but that employee income taxes totaling $7,000 and FICA taxes totaling $2,625 were withheld from this amount. The net pay was directly deposited into the employees' bank accounts. Assume Lightning Electronics also must pay $250 of unemployment taxes for this pay period. Prepare the journal entry or entries that Lightning would use to record the payroll. Include both employee and employer taxes. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) References View transaction list Mc Gran Journal entry worksheet Record the wages expense for November 1-14 time period, including payroll deductions. Note: Enter debits before credits Transaction 1 Generel Journal Debit Credit < Prev 5 of 6 Next > Check my work 5 166 points eBook Lightning Electronics is a midsize manufacturer of lithium batteries. The company's payroll records for the November 1-14 pay period show that employees earned wages totaling $50,000 but that employee income taxes totaling $7,000 and FICA taxes totaling $2.625 were withheld from this amount. The net pay was directly deposited into the employees' bank accounts. Assume Lightning Electronics also must pay $250 of unemployment taxes for this pay period. Prepare the journal entry or entries that Lightning would use to record the payroll. Include both employee and employer taxes. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Mc Graw View transaction list Journal entry worksheet < A Record the payroll tax expense. Note: Enter debits before credits Transaction General Journal Debit Credit < Prey 5 of 6 Next > Check my work