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Problem - Journalize payroll tax

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Problem - Journalize payroll tax

The payroll register of Gregory Communications Co. indicates $4,080 of social security withheld and $1,020 of Medicare tax withheld on total salaries of $68,000 for the period. Assume earnings subject to state and federal unemployment compensation taxes are $12,500, at the federal rate of 0.8% and the state rate of 5.4%. Provide the journal entry to record the payroll tax expense for the period.

Reference no: EM132628691

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