During a two week pay period,your company's employees earned gross wages and salaries of $67,500.The employees have income tax withholdings of $7,800 and the company owes a total of $10,400 in Canada Pension Plan payments (includes both the company and employee portions).Calculate the net pay that was paid to the employees and wages and salary expense for the company.Prepare the journal entry for this transaction.

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The Answer of During a two week pay period,your company's employees earned gross wages and salaries of $67,500.The employees have income tax withholdings of $7,800 and the company owes a total of $10,400 in Canada Pension Plan payments (includes both the company and employee portions).Calculate the net pay that was paid to the employees and wages and salary expense for the company.Prepare the journal entry for this transaction.

During a Two Week Pay Period,your Company's Employees Earned Gross