Below is a payroll sheet for Otis Import Company for the month of September 2020. The company is allowed a 5.40% unemployment compensation rate by the state; the federal unemployment tax rate is 0.60% and the maximum for both is $9,000. Assume a 12% federal income tax rate for all employees and a 7.65% FICA tax on employee and employer on a maximum of $132,900. In addition, 1.45% is charged both employer and employee for an employees wages in excess of $132,900 per employee.

1 Below is a payroll sheet for Otis Import Company for the month of September 2020 . The Instructions: (a) Complete the payroll sheet and make the necessary entry to record the payment of the payroll. 18 28 Journal entry \begin{tabular}{|l|l|l|l|} \hline 29 & & & \\ \hline 2n & Payroll & Tax Warranty Sheet3 \end{tabular} (c) Make the entry to record the payment of the payroll liabilities created. Assume that the company pays all payroll liabilities at the end of each month. 1 Below is a payroll sheet for Otis Import Company for the month of September 2020 . The Instructions: (a) Complete the payroll sheet and make the necessary entry to record the payment of the payroll. 18 28 Journal entry \begin{tabular}{|l|l|l|l|} \hline 29 & & & \\ \hline 2n & Payroll & Tax Warranty Sheet3 \end{tabular} (c) Make the entry to record the payment of the payroll liabilities created. Assume that the company pays all payroll liabilities at the end of each month