Answered: If employee's are paying into a SIMPLE…

If employee's are paying into a SIMPLE retirement plan, each payperiod how is the SIMPLE plan's contributions entered in a journal entry?

Personal Finance

13th Edition

ISBN:9781337669214

Author:GARMAN

Publisher:GARMAN

Chapter17: Retirement And Estate Planning

Section17.5: Achieve Your Retirement Savings Goal

Problem 1CC

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If employee's are paying into a SIMPLE retirement plan, each payperiod how is the SIMPLE plan's contributions entered in a journal entry?

Definition Definition Method of recording financial transactions in the book of original entry by debiting and crediting the accounts affected by a transaction using the golden rules of accrual accounting.

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