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Business, 16.04.2020 18:00 xojade

On January 15, the end of the first pay period of the year, North Company’s employees earned $35,000 of sales salaries. Withholdings from the employees’ salaries include FICA Social Security taxes at the rate of 6.2%, FICA Medicare taxes at the rate of 1.45%, $6,500 of federal income taxes, $772.50 of medical insurance deductions, and $120 of union dues. No employee earned more than $7,000 in this first period.

Prepare the journal entry to record the January 15 payroll and expenses activities.

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On January 15, the end of the first pay period of the year, North Company’s employees earned $35,000...

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