1 Below is a payroll sheet for Otis Import Company for the month of September 2020. The 2 company is allowed a 5.40% unemployment compensation rate by the state; the federal unemployment 3 tax rate is 0.60% 0.60% and the maximum for both is $9,000 Assume a 12% federal 4 income tax rate for all employees and a 7.65% FICA tax on employee and employer on a maximum of 5 $132,900 In addition, 1.45% is charged both employer and employee for an employee's wages in excess 6 of $132,900 per employee. Income Tax Withholding F.I.C.A. State U.C. Federal U.C. 8 Name 9 B.D. Williams 10 D. Raye 11 K Baker 12 F. Lopez 13 A Daniels 14 B. Kingston Earnings to Aug 31 $8,600 8,100 9,800 13,600 119,000 126,000 September Earnings $800 700 1.100 1,900 16,000 19,600 15 16 Instructions: 17 (a) Complete the payroll sheet and make the necessary entry to record the payment of the payroll Earnings to Aug. 31 September Earnings Income Tax Withholding FICA State U.C. Federal U.C. 19 Name 20 B.D. Williams 21 D. Raye 22 K. Baker 23 F. Lopez 24 A Daniels 25 B. Kingston 26 Total 28 Journal entry 35 (b) Make the entry to record the payroll tax expenses of Otis Import Company 36 Journal entry (c) Make the entry to record the payment of the payroll liabilities created. Assume that the company pays all payroll liabilities at the end of each month Journal entry