Transactions:- July 2020 + Mahare started to business by transferring R100 000
Mahtare bought a vehicle from Mc Carthy for business used by the
001 R40 000
Cash sales of merchandise 8 000 (profit mark up 50
8 Paid Sanlam Insurance for insurance premium 2012
9 Cash sales of merchandise per the short man
R 5000
10 Cashed a cheque to pay for wages, R2300
14 Cash sales R 4200
15 Paid Telkom for telephone account by cheque R360
18 Cashed a business chaque for personale, R 300​

Alamar petroleum company offers its employees the option of contributing retirement funds up to 5% of their wages or salaries, with the contribution being matched by alamar. the company also pays 80% of medical and life insurance premiums. deductions relating to these plans and other payroll information for the first biweekly payroll period of february are listed as follows: wages and salaries $ 2,800,000 employee contribution to voluntary retirement plan 92,000 medical insurance premiums 50,000 life insurance premiums 9,800 federal income taxes to be withheld 480,000 local income taxes to be withheld 61,000 payroll taxes: federal unemployment tax rate 0.60 % state unemployment tax rate (after futa deduction) 5.40 % social security tax rate 6.20 % medicare tax rate 1.45 % required: prepare the appropriate journal entries to record salaries and wages expense and payroll tax expense for the biweekly pay period. assume that no employee's cumulative wages exceed the relevant wage bases for social security, and that all employees' cumulative wages do exceed the relevant unemployment wage bases.