On January 15, the end of the first biweekly pay period of the year, North...
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Accounting
On January 15, the end of the first biweekly pay period of the year, North Companys payroll register showed that its employees earned $32,000 of sales salaries. Withholdings from the employees salaries include FICA Social Security taxes at the rate of 6.2%, FICA Medicare taxes at the rate of 1.45%, $2,500 of federal income taxes, $867 of medical insurance deductions, and $150 of union dues. No employee earned more than $7,000 in this first period. Prepare the journal entry to record North Companys January 15 (employee) payroll expenses and liabilities.
View transaction list Journal entry worksheet Record the employee payroll for period. Note: Enter debits before credits. Date General Journal Debit Credit Jan 15
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