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Business, 14.05.2021 22:40 Cooldude497

How to journalize and what ledger does each transaction go into? 1. Paid cash for liability for employee income tax, $471.00, social security tax, $899.00, and Medicare tax, $210.25; total, $1,580.25. C465.

2. Paid cash for semimonthly payroll, $2,670.10 (total payroll, $3,528.00, less deductions: employee income tax, $228.00; social security tax, $218.74; Medicare tax, $51.16; health insurance premiums, $240.00; retirement benefits, $120.00). C466.

3. Recorded employer payroll taxes, $309.89, for the semimonthly pay period ended December 15. Taxes owed are: social security tax, $218.74; Medicare tax, $51.16; federal unemployment tax, $5.16; and state unemployment tax, $34.83. M58.

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