Accounting for Current liabilities and contingencies

1. THE PAYROLL OF KENMARE COMPANY FOR SEPTEMBER 2020 IS A FOLLOWS: TOTAL PAYROLL WAS $480,000 OF WHICH $ 140,000 IS EXEMPT FROM SOCIAL SECURITY TAX BECAUSE IT REPRESENTS AMOUNTS PAID IN EXCESS OF $137,700 TO CERTAIN EMPLOYEES. THE AMOUNT PAID TO EMPLOYEES IN EXCESS OF $7,000 WAS $310,000. FEDERAL INCOME TAXES IN THE AMOUNT OF $72,500 WERE WITHHELD, AS WAS $4,000 IN UNION DUES AND $20,000 IN STATE INCOME TAXES. THE STATE UNEMPLOYMENT TAX IS 5.9%; BUT KENMARE COMPANY IS ALLOWED A CREDIT OF 1.1% BY THE STATE FOR ITS UNEMPLOYMENT EXPERIENCE. ASSUME THAT THE CURRENT FICA TAX RATE IS 7.65% ON AN EMPLOYEE'S WAGES TO $137,700 AND 1.45% IN EXCESS OF $137,700. THE FEDERAL UNEMPLOYMENT TAX RATE IS .6% AFTER STATE CREDIT. a. RECORD THE PAYROLL ENTRY DATED SEPTEMBER 30TH b. RECORD THE PAYROLL TAX ENTRY DATED SEPTEMBER 30TH. SHOW COMPUTATIONS