Exercise 11.2 Recording deposit of social security, Medicare, and income taxes. LO 11-3 After Beam Corporation paid its employees on July 15, 2019, and recorded the corporation's share of payroll taxes for the payroll paid that date, the firm's general ledger showed a balance of $20,700 in the Social Security Tax Payable account, a balance of $4,246 in the Medicare Tax Payable account, and a balance of $19,260 in the Employee Income Tax Payable account. On July 16, the business issued a check to deposit the taxes owed in the First Texas Bank. Record this transaction in general journal form. View transaction list Journal entry worksheet Record entry for depositing payroll taxes. Note: Enter debits before credits. Date General Journal Debit Credit July 16, 2019 Record entry Clear entry View general journal