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Record one journal entry to account for the payment

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Problem 1: Walking Boots Company is a monthly depositor whose December federal taxes are displayed below. Record one journal entry to account for the payment of federal taxes. All tax payments are made in a timely manner on the payment due date (which, for this month, is not impacted by a weekend or holiday).

December                  Tax Totals

Federal Income Tax $604
Employee's Social Security Tax $575
Employee's Medicare Tax $178
Employer's Social Security Tax $575
Employer's Medicare Tax $178

Reference no: EM132833697

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