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Question
Dixon Sales has seven sales employees that receive weekly paychecks. Each employee earns $10.25 per hour and has worked 40 hours in the pay period. Total federal income tax withholdings are $344.40. Each employee pays 3.0% in state income tax, 6.0% in social security tax, 1.5% in Medicare tax, and 0.5% toward retirement savings. Journalize the recognition of the pay period ending January 19 that will be paid to the employees on January 26.
Answer
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