Exercise 10-5 (Part Level Submission) During the month of March, Olinger Company's employees earned wages of $85,600. Withholdings related to these wages were $6,548 for Social Security (FICA), $10,031 for federal income tax, $4,146 for state income tax, and $535 for union dues. The company incurred no cost related to these earnings for federal unemployment tax but incurred $936 for state unemployment tax. (a) Your answer is correct. Prepare the necessary March 31 journal entry to record salaries and wages expense and salaries and wages payable. Assume that wages earned during March will be paid during April. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Mar. 31 TSalaries and Wages Expen Debit Credit 85600 FICA Taxes Payable 6548 Federal Income Taxes 10031 State Income Taxes Pa 4146 Union Dues Payable 535 Salaries and Wages Pa 64340