Downtown Shoe Repair Company has a biweekly gross payroll of $6,000 and the following deductions FIT $1,200 SIT 300 SS Tax 372 Medicare Tax 87 Health Insur Premiums (EE) 50 DSR also pays the following employment taxes and insurance for each payroll: SS Tax $372 Medicare Tax 87 FUTA 48 SUTA 324 Heath Insurance Prem (ER) 150

ASSIGNMENT- Prepare the following 4 Journal Entries:

1. Record the biweekly payroll - 2 points
2. Record the accrual of tax liabilities & employer's share of health insurance for its biweekly payroll - 2 points
3. Record the payment of its biweekly payroll - 2 points
4. Record the payment of taxes withheld and employer's taxes and health insurance premiums -2 points

You can either type the entries right into the assignment box or attach separate Word document or Excel spreadsheet. If you type them right into the box, be sure your debits and credits are correctly formatted and clear.