During the month of march, sunland company’s employees earned wages of $79,000. withholdings related to these wages were $6,044 for social security (fica), $9,258 for federal income tax, $3,827 for state income tax, and $494 for union dues. the company incurred no cost related to these earnings for federal unemployment tax but incurred $864 for state unemployment tax. prepare the necessary march 31 journal entry to record salaries and wages expense and salaries and wages payable. assume that wages earned during march will be paid during april.

The Journal entry is as follows:

On March 31st,

Salaries and Wages Expense A/c Dr. $79,000

To Wages Payable                                              $59,377

To Federal Withholding Payable                        $9,258

To FICA Payable                                                  $6,044

To State Withholding Payable                            $3,827

To Union Dues Payable                                      $494

(To record the salaries and wages expense and salaries and wages payable)

if i need to borrow money for anything, it would be for something like a house or an apartment but, that depend on the situation.

is this good enough?

answer///supply is elastic, and demand is inelastic;