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The Statewide Sales Company Has Gross Salaries and Wages for March

question 48

Essay

The Statewide Sales Company has gross salaries and wages for March of $45,000. Provide the journal entry to record salaries and wages expense and payroll withholdings. (Assume a FICA-OASDI Tax of 4.2% and FICA-Medicare Tax of 1.45%.)Salaries and wages to date are under the OASDI limit. Assume no federal or state income taxes are due.

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Definitions:

Middle to Late Childhood

A developmental stage typically ranging from about 6 to 12 years old, marked by significant growth in cognitive and social skills.

Non-Academic Self

Aspects of an individual's self-concept and activities that are not directly related to academic achievements or performance in a school setting.

Emotional

Pertaining to feelings or responses that are influenced by or express emotions.

Physical

Pertaining to the body as opposed to the mind or spirit, often relating to bodily processes, health, or fitness.

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