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2. Jay works for Addidas Company. For the month ended June 30, Jay earned $6,500. FICA taxes are 7.65%, state income taxes to be withheld

2. Jay works for Addidas Company. For the month ended June 30, Jay earned $6,500. FICA taxes are 7.65%, state income taxes to be withheld totaled $348. Federal income taxes withheld totaled $450. His health insurance is $25.00, and he contributes 8% of his gross pay into his retirement account. a. Prepare the journal entry to record Jay's earnings

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