Essay
Preston Sales,Inc.has gross salaries and wages for March of $45,000.Provide the journal entry to record salaries and wages expense and payroll withholdings.(Assume a FICA-OASDI Tax of 6.2% and FICA-Medicare Tax of 1.45%.)Salaries and wages to date are under the OASDI limit.Assume no federal or state income taxes are due.Salaries and wages will be paid at a later date.Omit explanation.
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