Entries for Payroll and Payroll Taxes The following information about the payroll for the week ended December 30 was obtained from the records of Armsparger Equipment Co. Salaries Income tax withheld Social security tax withheld Medicare tax withheld U.S. savings bonds Group insurance $73,744 22,626 6,285 9,218 7,542 $119.415 Sales salaries $203,000 Warehouse salaries112,000 104,000 $419,000 Office salaries Tax rates assumed: Social security, 6% Medicare, 1.5% State unemployment (employer only). 4.2% Federal unemployment (employer only), 0.8%