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According to a summary of the payroll of Scotland Company, $450,000 was subject to the 6.0% social security tax and $500,000 was subject to the 1.5% Medicare tax. Federal income tax withheld was $98,000. Also, $15,000 was subject to state
(4.2%) and federal (0.8%) unemployment taxes.?
(a)Journalize the entry to record the accrual of payroll.
(b)Journalize the entry to record the accrual of payroll taxes.
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