3.

TylerTyler

PhillipsPhillips

works for

RamirezRamirez

Company all year and earns a monthly salary of

$ 3 comma 500$3,500.

There is no overtime pay. Based on

TylerTyler's

W-4,

RamirezRamirez

withholds income taxes at

2020%

of his gross pay. As of July 31,

TylerTyler

had

$ 24 comma 500$24,500

of cumulative earnings.

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(Click the icon to view payroll tax rate information.)Journalize the accrual of salary expense for

RamirezRamirez

Company related to the employment of

TylerTyler

PhillipsPhillips

for the month of August. (Record debits first, then credits. Round all amounts to the nearest cent. Select the explanation on the last line of the journal entry table.)

Date

Accounts and Explanation

Debit

Credit

For all payroll calculations, use the following tax rates and round amounts to the nearest cent:

Employee:	OASDI: 6.26.2% on first $ 118 comma 500$118,500 earned; Medicare: 1.451.45% up to$200,000, 2.35% on earnings above $200,000.
Employer:	OASDI: 6.26.2% on first $ 118 comma 500$118,500 earned; Medicare: 1.451.45%; FUTA: 0.60.6% on first $ 7 comma 000$7,000 earned; SUTA: 5.45.4% on first $ 7 comma 000$7,000 earned.