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Assumption: In January, the gross earnings in ABC Company were $40,000. All earnings are subject to FICA Tax. Federal Income Tax Withheld was $9,000. State

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Assumption: In January, the gross earnings in ABC Company were $40,000. All earnings are subject to FICA Tax. Federal Income Tax Withheld was $9,000. State Income Tax Withheld was $1,000. Actions to take: 1. Calculate the FICA deduction. 2. Calculate the net payroll due. 3. Prepare the Journal Entry to record the payroll due

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