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Seaford Company has monthly salaries of $24,000 Assume Seaford pays all the standard payroll taxes, no employees have reached the payroll tax limits, total income tax withheld is $2,000, and the only payroll deductions are payroll taxes. Journalize the accrual of salaries expense, accrual of employer payroll taxes, and payment of employee and employer payroll taxes for Seaford Company Assume all of the monthly salary is subject to FUTA and SUTA. Record debits first then credits Select the explanation on the last line of the journal entry table.) Click the icon to view payroll tax rate information) Credit Begin with the entry to accrue salaries expense and payroll withholdings for the employee Date Accounts and Explanation Debit Salaries Expense 24000 FICA-OASDI Taxes Payable FICA Medicare Taxes Payable Employee Income Taxes Payable Salaries Payable To record Balarto experime and payroll wohholdings Choose from any list or enter any number in the input fields and then click Check Answer 2 parts remaining Clear All Check Answer Copyright 2021 Pearson Education Inc. All rights reserved. Terms OST POST Contes to search hp i - More Info For all payroll calculations, use the following tax rates and round amounts to the nearest cent: Employee OASDI: 6.2% on first $132.900 earned; Medicare: 1.45% up to $200,000, 2.35% on earnings above $200,000. Employer OASDI: 6.2% on first $132,900 earned; Medicare: 1.45%; FUTA: 0.6% on first $7,000 earned: SUTA: 5.4% on first $7,000 earned. Print Done

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