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Exercise $7-9($Static$)$ Other accrued liabilities$-$payroll taxes LO $7-4$

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At September $30,2022,$ the end of the first year of operations at Lukancic Incorporated, the firm's accountant neglected to accrue payroll taxes of $$4,700$ that were applicable to payrolls for the year then ended.

Exercise $7-9($Static$)$ Part a $-$ Horizontal Model

Required:

a$-1.$ Use the horizontal model to show the effect of the accrual that should have been made as of September $30,2022.$ Indicate the financial statement effect.

Note: Enter decreases with a minus sign to indicate a negative financial statement effect.