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eBook Calculator Recording Various Liabilities Instructions Chart of Accounts General Journal Instructions riyaiodurERCEUICSiiaguAr oWEg TaeecuOS i paooucINI s Uunyr0z0 a. Purchased merchandise on credt for SB0,000. (Note: Assume a periodic inventory system) b. Year-end wages of $40,000 were incurred, but not paid. Related federal income taxces of $13,000 and Medicare taes of $580 were withheld Employee wages are all above the Social Securty maximum, so only Medicare was paid C Year-end estimated income taxes payable, but unpaid, for the year were $113,615 d Sold merchandise on account for $3,636, including state sales taxes of $180 (Note Assume a periodic inventory system) e. Employer's share of Medicare taxes for the period was $580 The taxes wil be paid at a later date t Borrowed cash under a 180-day, 8% , $155,000 note Required Prepare the entry to record each of these trancactions treat each transection independenty) Check My Work 3 more Check My Work udes remainng Previous Next earch 632 PM 11/12/2019 Chart of Accounts General Journal Instructions Plymouth Electronics had the following transactions that produced liabilities during 2020 a Purchased merchandise on credit for $80,000. (Note Assume a periodic inventory system.) b Year-end wages of $40,000 were incurred, but not paid. Related federal income taxes of $13,000 and Medicare taxes of $580 were withheld Employee wages are all above the Social SeCurity maximum, so only Medicare was paid. C Year-end estimated income taxes payable, but unpaid, for the year were $113,615 d Sold merchandise on account for $3,636, including state sales taxes of $180. (Note: Assume a periodic inventory system) e. Employer's share of Medicare taxes for the period was $580 The taxes will be paid at a later date. fBorrowed cash under a 180-day, 8 %, $155.000 note. Required: Prepere the entry to record each of these transactions (treat each transaction independently) Previous 0more Check My Work uses remaning

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