Calculating Payroll Taxes Expense and Preparing Journal Entry Selected information from the payroll register of Ebeling's Dairy for the week ended July 7, 20--, is shown below. The SUTA tax rate is 5.4%, and the FUTA tax rate is 0.6%, both on the first $7,000 of earnings. Social Security tax on the employer is 6.2% on the first $128,400 of earnings, and Medicare tax is 1.45% on gross earnings. Taxable Earnings Cumulative Pay Before Current Employee Name Earnings Current Weekly Earnings Unemployment Social Compensation Security Click, Katelyn $6,600 $830 Coombs, Michelle 6,340 750 Fauss, Erin 23,860 1,170 Lenihan, Marcus 6,890 960 McMahon, Drew 125,200 5,300 Newell, Marg 25,680 1,130 Stevens, Matt 28,430 1,300 Taxable Earnings Before Current Employee Name Earnings Click, Katelyn $830 Cumulative Pay $6,600 Current Weekly Unemployment Social Earnings Compensation Security Coombs, Michelle 6,340 750 Fauss, Erin 23,860 1,170 Lenihan, Marcus 6,890 960 McMahon, Drew 125,200 5,300 Newell, Marg 25,680 1,130 Stevens, Matt 28,430 1,300 Required: 1. Calculate the total employer payroll taxes for these employees. Taxable Earnings Current Unemploy. Social Employee Weekly Comp. Security Name Earnings Click, Katelyn $ $ Coombs, Michelle Fauss, Erin Lenihan, Marcus McMahon, Drew Newell, Marg Stevens, Matt Total Social Security tax Medicare tax FUTA tax SUTA tax Total employer payroll taxes $ 2 Prepare the 2. Prepare the journal entry to record the employer payroll taxes as of July 7, 20--. Page: DATE ACCOUNT TITLE DOC. POST. NO. DEBIT CREDIT REF. 20-- 1 July 7 2 3 4 5 00000 6 1 2 3 4 5 6