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 s 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 Current Employee Name Earnings Weekly Unemployment Earnings Compensation Social Security Click, Katelyn $6,620 $830 Coombs, Michelle 6,340 230 Fauss, Erin i 23,090 1,150 Lenihan, Marcus 6,850 890 McMahon, Drew 125,460 5,010 Newell, Marg 25,290 1,160 Stevens, Matt 28,750 1,210 Required: 1. Calculate the total employer payroll taxes for these employees. Taxable Earnings Current Unemploy. Employee Weekly Comp. Social 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 journal entry to record the employer payroll taxes as of July 7, 20 Page: DATE ACCOUNT TITLE DOC. POST. NO. REF. DEBIT CREDIT 20- 1 July 7 23456 1 2345 6