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Problem-During the current month, the employees of a company have earned wages of $120,000 and...

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Accounting

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Problem-During the current month, the employees of a company have earned wages of $120,000 and the following source deductions were withheld: . Income tax $30,000 CPP premiums $5,940 El Premiums $1,920 On the 15th of the following month the employer paid all required remittances. Instructions Prepare all the necessary payroll journal entries, including the necessary remittance

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