For the year ended December 31, 2022, Sheridan Electrical Repair Company reports the following summary payroll data. Gross earnings: $194,000 Administrative salaries Electricians' wages 348,000 $942,000 Total Deductions: FICA taxes $36,100 Federal income taxes withheld 184,000 16,260 State income taxes withheld (3%) United Fund contributions payable Health insurance premiums 26,149 19,000 Total $281,509 Sheridan's payroll taxes are Social Security tax 6.2%, Medicare tax 145%, state unemployment 2,5% (due to a stable employment record), and 0.6% federal unemployment Gross earnings subject to Social Security taxes of 6.2% total $455,500, and gross earnings subject to unemployment taxes total $138,000. No employee exceeds the $132.900 limit related to FICA taxes subject to unemployment taxes total $138,000. No employee exceeds the $132.900 limit related to FICA taxes. (a) Prepare a summary journal entry at December 31 for the full year's payroll. Journalize the adjusting entry at December 31 to record the employer's payroll taxes. (b) (Round answers to decimal places, eg. 125. Credit account titles are automatically indented when amount is entered. Do not indent manus No. Account Titles and Explanation Debit Credit (a) ORE CH 3 **