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BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $137,700 paid to its employee, and FICA Medicare taxes are 1.45%

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BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $137,700 paid to its employee, and FICA Medicare taxes are 1.45\% of gross pay. For BMX, its FUTA taxes are 0.6% and SUTA taxes are 5.4% of the first $7,000 paid to its employee. Assuming situation ( ), prepare the employer's September 30 journal entry to record salary expense and its reloted payroll liabilities his employee. The employee's federal income taxes withheld by the employer are $80 for this pay period. Complete this question by entering your answers in the tabs below. The employee's federal income taxes withheld by the employer are 580 for this pay period. Assuming situation (a), compute the taxes to be withheld from gross pay for this employee. (Round your answers to 2 decimal places.) Prepare the employer's September 30 journal entry to record accrued salary expense and its related payroll liabilities for this employee. Note: Enter debits before credits

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