Calculation of Taxable Earnings and Employer Payroll Taxes and Preparation of Journal Entry Selected information from the payroll register of Joanie's Boutique for the week ended September 14, 20--, is as follows: Social Security tax is 6.2% on the first $128,400 of earnings for each employee. Medicare tax is 1.45% of gross earnings. FUTA tax is 0.6% and SUTA tax is 5.4% on the first $7,000 of earnings. Taxable Earnings Cumulative Pay Before Current Current Unemployment Social Employee Name Earnings Gross Pay Compensation Security Jordahl, Stephanie $6,600 $1,190 Keesling, Emily 6,150 1,070 Palmer, Stefan 55,200 2,410 Soltis, Robin 54,300 2,280 Stout, Hannah 29,050 2,030 Xia, Xu 126,530 2,850 1. Calculate the amount of taxable earnings for unemployment Social Security, and Medicare taxes. Taxable Earnings Current Unemployment Social Employee Name Earnings Compensation Security Jordahl, Stephanie $ 400 $ 7,790 7,220 Keesling, Emily 0 eBook Show Me How Calculator 1. Calculate the amount of taxable earnings for unemployment, Social Security, and Medicare taxes. Current Earnings Taxable Earnings Unemployment Social Compensation Security Employee Name Jordahl, Stephanie $ 7,790 $ 400 $ Keesling, Emily 0 7,220 57,610 0 Palmer, Stefan 56,580 Soltis, Robin o Stout, Hannah 31,080 0 Xia, Xu 129,380 Total 2. Prepare the journal entry to record the employer's payroll taxes as of September 14, 20--, Page: DOC. POST. DATE ACCOUNT TITLE DEBIT CREDIT NO. REF. 1 20- Sept. 14 1 2. 2 3 llll 3 4 4 5 5