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3. Company pays an employee $2,000 in gross wages with the following applicable withholding and tax amounts Federal income tax withheld SS Tax Medicare Tax

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3. Company pays an employee $2,000 in gross wages with the following applicable withholding and tax amounts Federal income tax withheld SS Tax Medicare Tax Unemployment Tax 401(k) withheld 450 124 29 440 200 PART 1: Calculate and record the accounting entry for PAYROLL EXPENSE AND PAYROLL TAX EXPENSE. That is two (2) entries PART 2: What is the total compensation expense for the company

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