What would this journal entry look like? _con=con&external_browser=0&launchUrl=https%253A%252F%252Fnewconnect.mheducation.com%252F#/activityHomework iSavedKMH Industries is a monthly schedule depositor of payroll taxes. For the month of August 2020, the payroll taxes (employee andemployer share combined) were as follows:Social Security tax: $3,352.53Medicare tax: $784.06Employee Federal income tax: $2,600.00Required:Create the General Journal entry for the remittance of the taxes. (If no entry is required for a transaction/event, select "No journalentry required" in the first account field. Round your answers to 2 decimal places.)View transaction listJournal entry worksheet1Record the remittance of August payroll taxes.Note: Enter debits before credits.DebitCreditDateGeneral JournalSep 157 of 8NextDrov Question 7- Chapter 7-Homev Xtps://ezto.mheducation.com/ext/map/index.html?_con%3con&external browser%3D0&launchUrl%=https%253A%252F%252Fnewconnect.mheduction.com25M MHE Readermework iSavedView transaction listJournal entry worksheet1Record theNo journal entry required401(k) Contributions payableCashNote: Enter detEmployee Federal income tax payableDateDebitCreditSep 156.789.13QWEYU%3DFG HJK.LA-T5.

Citizens are taxed in proportion to their financial situation, promoting social and economic…

KMH Industries is a monthly schedule depositor of payroll taxes. For the month of August 2020, the payroll taxes (employee and employer share combined) were as follows: Social Security tax: $3,352.53 Medicare tax: $784.06 Employee Federal income tax: $2,600.00 Required: Create the General Journal entry for the remittance of the taxes. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your answers to 2 decimal places.)

KMH Industries is a monthly schedule depositor of payroll taxes. For the month of August 2020, the payroll taxes (employee and employer share combined) were as follows: Social Security tax: $3,352.53 Medicare tax: $784.06 Employee Federal income tax: $2,600.00 Required: Create the General Journal entry for the remittance of the taxes. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your answers to 2 decimal places.)

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter8: Employer Taxes, Payments, And Reports

Section: Chapter Questions

Problem 1E

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