4 2 Instructions Chart of Accounts First Question Journal Instructions + According to a summary of the payroll of Guthrie Co., $750,000 was subject to the 6.0% social security tax and the 1.5% Medicare tax. Also, $52,000 was subject to state and federal unemployment taxes. Required: a. Compute the employer's payroll taxes, using the following rates: state unemployment, 5.4%; federal unemployment, 0.6%. b. On December 31, journalize the entry to record the accrual of payroll taxes. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered. DATE DESCRIPTION POST. REF DEBIT CREDIT ASSETS