#7 On 5/31/21, Erickson Hundy Corp. calculates total salaries earned by employees of $60,000 for the month of May. Employees also earned $7,000 worth of paid vacation time during May, to be used in future months. The company withheld FICA taxes of $2,000 and income taxes of $14,000 during the month. FUTA taxes for May were $1,100. What is the total amount of compensation expense' that Erickson Hundy will recognize for the month of May? Hint: first figure out the journal entry the company will record related to the information above