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Question
According to a summary of the payroll of Scotland Company, total gross pay was $500,000, all earnings were subject to the 6.0% social security tax and 1.5% Medicare tax, and federal income tax withheld was $98,000. Also, $15,000 was subject to state (4.2%) and federal (0.8%) unemployment taxes
a. Journalize the entry for the payroll.
b. Journalize the entry for the employer’s payroll tax expense.
Answer
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