Games Co. has eight employees, each of whom earns $3,500 per month. Income taxes are 20% of gross pay and the company deducts EI and CPP. Prepare the March 31, 2018, journal entry to record Games Co.'s salaries expenses for the month.

Games Co. has eight employees, each of whom earns $3,500 per month. Income taxes are 20% of gross pay and the company deducts EI and CPP. Prepare the March 31, 2018, journal entry to record Games Co.'s salaries expenses for the month.

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter9: Current Liabilities And Contingent Obligations

Section: Chapter Questions

Problem 5RE

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