Question: Prepare the journal entry for payroll expense (the first payroll entry) based on the following data for one week: Action Travel has a total salaries

Prepare the journal entry for payroll expense (the first payroll entry) based on the following data for one week: Action Travel has a total salaries for employees of $8,000 per week. Income taxes are withheld at 15%. FICA taxes are 7.65% and unemployment taxes are 3.8%. No employee has exceeded any salary limits on FICA or unemployment. Note that you may not need all data that is given.

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