(6.1A) Journalize payroll and payroll tax entries. (Objs. 8, 9). The data and instructions given below relate to Memphis Furniture Company for the month of August 2006. The beginning credit balance of the Factory Payroll Clearing account on August 1 was $9,720, representing unpaid wages earned by employees during the last two days of July. Instructions 1. Set up a Factory Payroll Clearing account and enter the beginning balance. Journalize the summary of weekly and semimonthly payroll paid during the month. Use the account titles in your textbook with the data shown here. Total gross wages Income taxes withheld Social security taxes withheld Medicare taxes withheld Group insurance deductions Pension plan contributions $84,380 12,700 5,232 1,266 1,680 4,200