8. Below is payroll information from a company's payroll register $ 40,000 Gross salaries Employee Deductions Federal income tax withheld Social Security tax withheld Medicare tax withheld Retirement Contributions $ 10,000 $ 2,400 $ 600 $ 3,400 a. Journalize the payroll: (6.5 points) Description/Account Debit Credit Illustrate how the above entry will affect the accounting equations Assets Liabilities Owner's Equity b. Journalize payroll tax expense assuming the company has $10,000 of wages subject to 15 FUTA and 5% SUTA tax rates: (7.75 points) Description/Account Debit Credit Illustrate how the above entry will affect the accounting equation: Assets Liabilities Owner's Equity