Business, 17.04.2020 01:10 modelingavakin

During the month of March, Sheridan Company’s employees earned wages of $84,000. Withholdings related to these wages were $6,426 for FICA, $10,080 for federal income tax, $4,200 for state income tax, and $504 for union dues. The company incurred no cost related to these earnings for federal unemployment tax but incurred $840 for state unemployment tax. Prepare the necessary March 31 journal entry to record salaries and wages expense and salaries and wages payable. Assume that wages earned during March will be paid during April. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

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During the month of March, Sheridan Company’s employees earned wages of $84,000. Withholdings relate...

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