FICA tax withholdings is not a option for general journal

[The following information applies to the questions displayed below.) The following summary data for the payroll period ended December 27, 2018, are available for Cayman Coating Co. Gross pay FICA tax withholdings Income tax withholdings Group hospitalization insurance Employee contributions to pension plan Total deductions $ 258,000 7 30,960 3,810 ? 62,475 2 Net pay Additional information: . For employees, FICA tax rates for 2018 were 765% on the first $128,400 of each employee's annual earnings. However, no employees had accumulated earnings for the year in excess of the $128.400 limit. For employers, FICA tax rates for 2018 were also 765% on the first $128,400 of each employee's annual earnings The federal and state unemployment compensation tax rates are 0.6% and 5.4%, respectively. These rates are levied against the employer for the first $7,000 of each employee's annual earnings. Only $27,000 of the gross pay amount for the December 27, 2018, pay period was owed to employees who were still under the annual mit b-2. Assuming that Cayman Coating Co's payroll for the last week of the year is to be paid on January 3, 2019, record the journal entry to show the effects of the December 27, 2018, entries for Accrued payroll taxes. (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) Journal entry worksheet Record the accrued payroll taxes. Note: Enter debits before credits. Event General Journal Debit Credit 1 258,000 Wages expense Income taxes withheld Group hospitalization insurance Employee contributions to pension plan Wages payable + 50,697 3,810 7,968 195,525 Record entry Clear entry View general journal b-2. Assuming that Cayman Coating Co's payroll for the last week of the year is to be paid on January 3, 2019, record the journal er to show the effects of the December 27, 2018, entries for Accrued payroll taxes. If no entry is required for a transaction/event, sel "No journal entry required" in the first account field.) Answer is complete but not entirely correct. No Event General Journal Credit Debit 258.000 1 1 Wages expense Income taxes withheld Group hospitalization insurance Employee contributions to pension plan Wages payable 50,697 3,810 7.968 195,525