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Exercise 8-8(algo) record payroll (lo8-3)

Exercise 8-8(algo) record payroll (lo8-3)-example-1
User Theedchen
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Here are the journal entries to record the payroll transactions:

Salary Expense 2,500,000

Withholding Payable 632,500

Other Payable - FICA 101,250

Income Tax Payable 531,250

Salaries Payable 2,500,000

Unemployment Tax Expense 155,000

Unemployment Tax Payable 155,000

Fringe Benefit Expense 75,000

Blue Cross Payable 75,000

Hope this helps! Let me know if you have any other questions.

User Jasmeen
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