eBook Video Calculator Signature Company's partial payroll register for the week ended January 7 is as follows: TAXABLE EARNINGS BEGINNING ENDING CUMULATIVE SOCIAL TOTAL CUMULATIVE SECURITY NAME EARNINGS EARNINGS EARNINGS UNEMPLOYMENT MEDICARE Barney, RS 1,985.00 1,985.00 1,985.00 1,985.00 1,995.00 Fisk, MC 577.00 577.00 577.00 577.00 577.00 Hayes, W.O. 500.00 500.00 500.00 500.00 500.00 Lee, LB 670.00 670.00 670.00 670.00 670.00 Parks, S. 3 556.00 556.00 556.00 556.00 556.00 Tempy, L. B. 558.00 558.00 558.00 558.00 558.00 4,846.00 4,846.00 4,846,00 4,846,00 4,846.00 Assume that the payroll is subject to an employer's Social Security tax of 6.2 percent on the first $118,500 and a Medicare tax of 1.45 percent on all earnings. Also assume that the federal unemployment tax is 0.6 percent, and that the state unemployment tax is 5.4 percent of the first $7,000 Give the entry in general Journal form to record the payroll tax expense. If an amount box does not require an entry, leave it blank. It required, round your intermediate calculations and final answers to the nearest cent and use the rounded answers in subsequent computations. GENERAL JOURNAL PAGE DATE DESCRIPTION DOC NO POST. REF DEBIT CREDIT 20 Dan 7 Payroll Tax Expense PICA Social Security Tax Payable 300.45 Check My Work Next All work saved. Email Instructor Save and Exit Submit Assignment for Grading lon) Video Calculator 500.00 eBook Hayes, W.O. Lee, L. B Parks, 5 Tempy, E. B 500.00 670.00 556.00 558.00 4,846.00 S00.00 670.00 556.00 558.00 4,846.00 670.00 556.00 558.00 4,846.00 500.00 670.00 556.00 558,00 4,846,00 500.00 670.00 556.00 558.00 4,846.00 Assume that the payroll is subject to an employer's Social Security tax of 6.2 percent on the first $118,500 and a Medicare tax of 1.45 percent on all earnings. Also assume that the federal unemployment tax is 0.6 percent, and that the state unemployment taxis 5.4 percent of the first $7,000 Give the entry in general Journal form to record the payroll tax expense 17 an amount box does not require an entry, leave it blank. If required, round your intermediate calculations and final answers to the nearest cent and use the rounded answers in subsequent computations GENERAL JOURNAL PAGE DOC DATE POST DESCRIPTION DEBIT NO CREDIT REF: 20- 300.45 70.27 San Payroll Tax Expense FICA Social Security Tax Payable FTCA Medicare Tax Payable State Unemployment Tax Payable Federal Unemployment Tax Payable To record employer's share of FICA taxes and employer's state and federal unemployment taxes