Assume the following payroll information for Lizzie Border:
Gross Pay
$10,000
Income tax
$2,500
FICA Social Security
$620
FICA Medicare
$145
What is included in the journal entry to record the employer amounts of the payroll? Assume gross salary maximums have not been reached.
FICA Medicare taxes payable $145
Employer portion of income tax $2,500
Salaries expense of $6,740
Salaries payable of $10,000
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