McHale Enterprises has the following incomplete General Journal entry for the most recent pay date: What is the amount of the 401(k) contributions for the pay date?

Question

McHale Enterprises has the following incomplete General Journal entry for the most recent pay date:  What is the amount of the 401(k) contributions for the pay date?

Quizplus · Accepted Answer

The incomplete journal entry includes the debits and credits for various employee deductions, including 401(k) contributions. The entry shows a credit of $12,576.05 for 401(k) contributions, which means that this amount was withheld from employee paychecks and is being deposited into their 401(k) accounts.

McHale Enterprises Has the Following Incomplete General Journal Entry for the Most