BMX Company has one employee. FICA Social Security taxes are $6\mathrm{.}2\%$ of the first $$137,700$ paid to its employee, and FICA

Medicare taxes are $1\mathrm{.}45\%$ of gross pay. For BMX$,$ its FUTA taxes are $0\mathrm{.}6\%$ and SUTA taxes are $5\mathrm{.}4\%$ of the first $$7,000$ paid

to its employee.

Assuming situation $($a$),$ prepare the employer's September $30$ journal entry to record the employer's payroll taxes expense and its

related liabilities.

Complete this question by entering your answers in the tabs below.

Payroll Taxes

Expense

General

Journal

Assuming situation $($a$),$ compute the payroll taxes expense.

Note: Round your answers to $2$ decimal places.