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Art Parrish Is the Sole Employee of Parrish Sales

question 151

Essay

Art Parrish is the sole employee of Parrish Sales. His company pays a portion of his health insurance premium, and also contributes to a retirement plan in his name. The company share of the health insurance premium is $400, and the company contribution to the retirement plan is $550. Please provide the third journal entry in the payroll cycle to record the employee benefits paid by the company.
Art Parrish is the sole employee of Parrish Sales. His company pays a portion of his health insurance premium, and also contributes to a retirement plan in his name. The company share of the health insurance premium is $400, and the company contribution to the retirement plan is $550. Please provide the third journal entry in the payroll cycle to record the employee benefits paid by the company.

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Definitions:

Correct Syntax

The set of rules that defines the combinations of symbols that are considered to be correctly structured programs or expressions in a programming language.

Superclass

In the realm of object-oriented programming, a class that serves as a basis for other classes to derive properties and methods from.

Single Inheritance

Single Inheritance is a feature of object-oriented programming where a class can inherit properties and methods from only one superclass.

Subclass

A class that inherits from another class, known as superclass, and can have additional properties or methods.

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