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A company paid its employees $87,000 in salaries during Janua $13,050 and state tax withholdings...

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Accounting

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A company paid its employees $87,000 in salaries during Janua $13,050 and state tax withholdings were $6,960. The FUTA rate is 0.6% and the UTA rate is 2.6% and both are taxed on the first $7,000 of each employee's wage FICA Medicare is 1.45% and FICA Social Security is 6.2%. Prepare the journal entries to record the employee and employer ry and no employee has earned more than $7,000 this year. Employee federal tax withholdings were taxes (SHOW ALL CALCULATIONS TTTArial Words:0 Path: p

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