After the JPR Corporation paid its employees on May 15, 2019, and recorded the corporation’s share of payroll taxes for the payroll paid that date, the firm’s general ledger showed a balance of $1,730 in the Social Security Tax Payable account, a balance of $356 in the Medicare Tax Payable account, and a balance of $1,972 in the Employee Income Tax Payable account. On May 16, 2019, the business issued a check to deposit the taxes owed in the local bank. Record this transaction in a general journal form.

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Answer:

Given that the firm's general ledger showed the following:

Balance in the Social Security Tax Payable account = $1,730

Balance in the Medicare Tax Payable account = $356

Balance in the Employee Income Tax Payable account = $1,972.

Record this transaction in a general journal form:

Date: May 16, 2019

Account title: Social Security Tax Payale. Dr. $1,730

                      Medicare Tax Payable. Dr.  $356

                      Employee Income Tax Payable, Dr. $1,972

                      Bank/Cash(Total),  Cr. $4,058