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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. Exercise 9-8 (Static) Payroll-related journal entries LO P2 Issuming situation (a), prepare the employer's September 30 journal entry to record salary expense and its related paycoll 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. Assuming situation (a), prepare the employer's September 30 journal entry to record salary expense and its related payroll liabjlities for this employee. The employee's federal income taxes withheld by the employer are $80 for this pay period. Note: Round your answers to 2 dedimal places

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