Debit/Credit Payroll
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In addition to regular payroll, ET Ice Cream Company hired a local construction company to assemble the structure and freezer paying them $26,000. What is the debit and credit for paying the construction company? How does ET report the construction cost payment to federal agencies?
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This solution explains ET Ice Cream Company.
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Since the construction company is contracted then this is not a payroll transaction. The debit ...
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