Exercise 9-10 (Algo) Recording payroll LO P2, P3 The following monthly data are taken from Ramirez Company at July 31: Sales salaries, $500,000; Office salaries, $100,000; Federal income taxes withheld, $150,000; State income taxes withheld, $33,500; Social security taxes withheld, $37,200; Medicare taxes withheld, $8,700; Medical insurance premiums, $12,000; Life insurance premiums, $9,000; Union dues deducted, $6,000; and Salaries subject to unemployment taxes, $60,000. The employee pays 40% of medical and life insurance premiums. Assume that FICA taxes are identical to those on employees and that SUTA taxes are 5.4% and FUTA taxes are 0.6%. 1. & 2. Using the above information, complete the below table and prepare the journal entries to record accrued payroll, including employee deductions, and cash payment of the net payroll (salaries payable) for July. 3. Using the above information, complete the below table. 4. Record the accrued employer payroll taxes and other related employment expenses and the cash payment of all liabilities related to the July payroll-assume that FICA taxes are identical to those on employees and that SUTA taxes are 5.4% and FUTA taxes are 0.6%. Complete this question by entering your answers in the tabs below. Req 1 and 2 Req 3 Req 4 Using the above information, complete the below table and prepare the journal entries to record accrued payroll, including employee deductions, and cash payment of the net payroll (salaries payable) for July. Total % Paid by Premium Paid Premium Employees by Employees Premium Paid by Employer Employee Medical Insurance Payable Employee Life Insurance Payable $ 12,000 $ 9,000 40% $ 40% $ 4,800 3,600 $ $ 7,200 5,400 Date General Journal Debit Credit Record journal entry for accrued payroll, including employee deductions, for July. July 31 Sales salaries expense 500,000 Office salaries expense 100,000 Employee state income taxes payable 33,500 FICA-Social security taxes payable FICA Medicare taxes payable Employee life insurance payable Emrinues uninni navahla 37,200 8,700 Employee medical insurance payable 4,800 3,600 anool