In January, gross earnings in Sheridan Company were $78,000. All earnings are subject to 7.65% FICA...

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In January, gross earnings in Sheridan Company were $78,000. All earnings are subject to 7.65% FICA taxes. Federal income tax withheld was $17,500, and state income tax withheld was $2,000. (a) Your answer is correct. Calculate net pay for January. Net pay for January $ 52,533 eTextbook and Media List of Accounts Attempts: 1 of 3 used (b) Record the payroll. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit In January, gross earnings in Sheridan Company were $78,000. All earnings are subject to 7.65% FICA taxes. Federal income tax withheld was $17,500, and state income tax withheld was $2,000. (a) Your answer is correct. Calculate net pay for January. Net pay for January $ 52,533 eTextbook and Media List of Accounts Attempts: 1 of 3 used (b) Record the payroll. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit