According to the accountant of Ulster Inc., its payroll taxes for the week were as follows: $130.00 for FICA taxes, $17.50 for federal unemployment taxes, and $84.50 for state unemployment taxes. Journalize the entry to record the accrual of the payroll taxes. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to 2 decimal places, e.g. 10.50.)
On January 1, 2017, Klosterman Company issued $563,500, 10%, 10-year bonds at face value. Interest is payable annually on January 1.
(a) Prepare the journal entry to record the issuance of the bonds. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Prepare the journal entry to record the accrual of interest on December 31, 2017. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Prepare the journal entry to record the payment of interest on January 1, 2018. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)