Entries for Payroll and Payroll Taxes The following information about the payroll for the week ended December 30 was obtained from the records of Saine Co.: Salaries: Sales salaries Deductions: $225,000 Income tax withheld $81,664 Warehouse salaries 124,000 Social security tax withheld 27,840 Office salaries 115,000 Medicare tax withheld 6,960 $464,000 Retirement savings 10,208 Group insurance 8,352 $135,024 Tax rates assumed: Social security, 6% Medicare, 1.5% State unemployment (employer only), 5.4% Federal unemployment (employer only), 0.6% 1a. Assuming that the payroll for the last week of the year is to be paid on December 31, journalize the entry on December 30 to record the payroll. Date Dec. 30 Account Debit Credit 1b. Assuming that the payroll for the last week of the year is to be paid on December 31, Journalize the entry on December 30 to record the employer's payroll taxes on the payroll to be paid on December 31. Of the total payroll for the last week of the year, $23,000 is subject to unemployment compensation taxes. Date Dec. 30 Account Debit Credit 2a. Assuming that the payroll for the last week of the year is to be paid on January 4 of the following fiscal year, journalize the entry on December 30 to record the payroll. Date Dec. 30 Account Debit Credit 2b. Assuming that the payroll for the last week of the year is to be paid on January 4 of the following fiscal year, journalize the entry to record the employer's payroll taxes on the payroll to be paid on January 4. Because it is a new fiscal year, all $464,000 in salaries is subject to unemployment compensation taxes. Jan. 5 Date Account Debit Credit