Required information Use the following information for the Exercises below. (Algo) [The following information applies...
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Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions dispiayed belowi] BMX Compary has one employee. FICA Soctal Securty taxes are 6.2% of the first $137,700 pald to its employee, and FCA Medicare taxes are 1.45% of gross pay. For BMX, It FUTA taxes are 0.6% and SUTA taxes are 5.4% of the first $7,000 paid to 1 ts employee. Exercise 9-8 (Algo) Payroll-reloted journol entries LO P2 Assuming siruotion (d). prepare the employer's September 30 journal entry to record solary expense and is related payroll liabilities for this employee. The employee's federal income taxes withheld by the employer are $90 for this pay period. Complete this question by entering your answers in the tabs below
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