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Accounting entries for collecting social security fees
Accounting entries of employee insurance collected and remitted by the unit:
1. Collection
Debit: Payables-Social Security
Loan: other payables-personal social security
Pay on behalf of others
Debit: other receivables-personal social security
Loan: bank deposit-* * bank
Further reading: How to buy insurance, which is good, and teach you how to avoid these "pits" of insurance.
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