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On January 15, the end of the first biweekly pay period of the year, North...

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Accounting

On January 15, the end of the first biweekly pay period of the year, North Companys payroll register showed that its employees earned $32,000 of sales salaries. Withholdings from the employees salaries include FICA Social Security taxes at the rate of 6.2%, FICA Medicare taxes at the rate of 1.45%, $2,500 of federal income taxes, $867 of medical insurance deductions, and $150 of union dues. No employee earned more than $7,000 in this first period. Prepare the journal entry to record North Companys January 15 (employee) payroll expenses and liabilities.

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View transaction list Journal entry worksheet Record the employee payroll for period. Note: Enter debits before credits. Date General Journal Debit Credit Jan 15

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