Airline Temporary Services $($ATS$)$ pays employees monthly. Payroll information is listed below for January, the first month of ATS$$s fiscal year. Assume that none of the employees exceeds the federal unemployment tax maximum salary of $$7,000$ in January.

Salaries expense $$420,000$

Federal and state income tax withheld $84,000$

Federal unemployment tax rate $0\mathrm{.}80\%$

State unemployment tax rate $($after FUTA deduction$)5\mathrm{.}40\%$

Social Security $($FICA$)$ tax rate $7\mathrm{.}65\%$

Required:

Record salaries expense and payroll tax expense for the January pay period. $($If no entry is required for a particular transaction, select $"$No Journal Entry Required" in the first account field.$)1.$Record the employee salary, withholdings, and salaries payable. $2.$Record the employer payroll tax expense.