Essay
Townson Company had gross wages of $180,000 during the week ended December 10. All earnings are subject to social security tax, while the amount of wages subject to federal and state unemployment taxes was $24,000. Tax rates are as follows: 
The total amount withheld from employee wages for federal income taxes was $32,000.(a)Journalize the entry to record the payroll for the week of December 10. If required, round your answers to the nearest cent.(b)Journalize the entry to record the payroll tax expense incurred for the week of December 10. If required, round your answers to the nearest cent.
Correct Answer:
Verified
Correct Answer:
Verified
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