1.2 Prepare the journal entry to record Regis Company's January 8 (employee) payroll expenses and liabilities. (Round your answers to 2 decimal places.) View transaction list View journal entry worksheet No Date General Journal Debit Credit 1 Jan 08 98,600.00 Wages expense Employee fed. inc. taxes payable FICA-Social sec. taxes payable FICA-Medicare taxes payable Employee medical insurance payable Employee union dues payable Accounts payable 13,660.00 6,113.20 1,429.70 1,390.00 860.00 75,147.10 2. Prepare the journal entry to record Regis's (employer) payroll taxes resulting from the January 8 payroll. Regis's merit rating reduces its state unemployment tax rate to 5% of the first $7,000 paid each employee. The federal unemployment tax rate is 0.60%. (Round your answers to 2 decimal places.) View transaction list Journal entry worksheet