ng Enabled Accounting Principles 1 Honors Fin... Soved Help Save This question will be sent to your instructor for gradi

[answerhappygod]

Ng Enabled Accounting Principles 1 Honors Fin Soved Help Save This Question Will Be Sent To Your Instructor For Gradi 1 (45.93 KiB) Viewed 29 times

ng Enabled Accounting Principles 1 Honors Fin... Soved Help Save This question will be sent to your instructor for grading. Mar. 1 purchased merchandise on account from Kelvin company, $20,000 Apr. 10 issued a 60 day, 12% note for $20,000 to Kelvin company on account Jun. 9 paid Kelvin company the amount owed on the note of April 10 Aug. 1 issued a $50,000, 90-day note to Harold company. In exchange for a building, Henry Company discounted to note at 15% Oct. 30 paid Henry Company the amount due on the note of August 1. Dec 27 journalized the entry to record the biweekly payroll. A summary of the payroll record follows: Salary distribution: Sales $63,400 Officers 36,600 Office 10,000 $110.000 4:01 850 Deductions: Social Security tax $6,600 Medicare tax 1.650 Federal income tax withheld 17,600 State income tax withheld 4,950 Savings bond deduction Medical insurance deductions 1.120 $32.770 Net amount $77,230 27 journalize the entry to record payroll taxes for Social Security and Medicare from the biweekly payroll. 30, issued a check and payment of liabilities for employees' federal income tax of 17,600, Social Security tax of 13,200 and Medicare tax of $3300 31 journalize the entry to record the employees occrued vacation pay $36,100. 31. Journal is an entry to record the estimated accrued product warranty liability, $37,240 INSTRUCTIONS Journalize the transactions Prov 1 of 8 Next >