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The Payroll Records of a Company Provided the Following Data

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The payroll records of a company provided the following data for the weekly pay period ended December 7:
The payroll records of a company provided the following data for the weekly pay period ended December 7: The FICA Social Security tax rate is 6.2% and the FICA Medicare tax rate is 1.45% on all of this week's wages paid to each employee.The federal and state unemployment tax rates are 0.8% and 5.4%,respectively,on the first $7,000 paid to each employee.Prepare the journal entries to (a) accrue the payroll and (b) record payroll taxes expense. The FICA Social Security tax rate is 6.2% and the FICA Medicare tax rate is 1.45% on all of this week's wages paid to each employee.The federal and state unemployment tax rates are 0.8% and 5.4%,respectively,on the first $7,000 paid to each employee.Prepare the journal entries to (a) accrue the payroll and (b) record payroll taxes expense.

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Salaries and Wages Expense = ($1,200 + $...

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