3) The following information about the payroll for the week ended December 30 was obtained from the records of Saine Co.:

Salaries:				Deductions:
	Sales salaries	$625,000			Income tax withheld	$232,260
	Warehouse salaries	240,000			U.S. savings bonds	35,500
	Office salaries	320,000			Group insurance	53,325
		$1,185,000

Tax rates assumed:
	Social security, 6%
	Medicare, 1.5%
	State unemployment (employer only), 5.4%
	Federal unemployment (employer only), 0.8%

Assuming that the payroll for the last week of the year is to be paid on January 4 of the following fiscal year, journalize the entry on December 30, to record the payroll.

Date	Account	Debit	Credit
Dec. 30

Assuming that the payroll for the last week of the year is to be paid on January 4 of the following fiscal year, journalize the entry on January 4, to record the employer's payroll taxes on the payroll to be paid on January 4. Because it is a new fiscal year, all $1,185,000 in salaries is subject to unemployment compensation taxes.

Date	Account	Debit	Credit
Jan. 4