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Francisco Company has 10 employees, each of whom earns $2,800 per month and is paid on the last day of each month. All 10 have

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Francisco Company has 10 employees, each of whom earns $2,800 per month and is paid on the last day of each month. All 10 have been employed continuously at this amount since January 1. On March 1, the following accounts and balances exist in its general ledger. a. FICA-Social Security Taxes Payable, $3,472; FICA-Medicare Taxes Payable, \$812. (The balances of these accounts represent total liabilities for both the employer's and employees' FiCA taxes for the February payroll only.) b. Employees' Federal income Taxes Payable, $4,000 (liability for February only). c. Federal Unemployment Taxes Payable, $336 (liability for January and February together). d. State Unemployment Taxes Payable, $3,024 (liability for January and February together). The company had the following payroll transactions. March 15 Isnued check payable to switt Bank, a federal depository bank authorized to accept employers' payments of rien taxes and employee incone tax withholdingl. The 58,284 cheek it in paysent of the Pobruary FrCA and employee incone taxes. Mareh 31 Recorded the journal entry for the March nalarien payable. Then recorded the eanh payment of the Mareh payrot1 (the company issued ebecke payable to each employee in payment of the March payro11). The payroll reginter bhowin the folloving =umary totali for the March pay poriod. - Federal Insurance Contributions Act (FICA) taxes are Social Security and Medicare, respectively Warch 31 Yecorded the emplover'a pavroll taxes renulting from the Mareh bavro11. The coenany hat a otate unemolovment March 31 Recorded the enployer'A payroll taxes resulting from the March payroll. The coepany has a state unemployment tax rate of 5.48 on the first $7,000 paid to each employee. The federal rate in 0.60 . April 15 Insued check to Swift Bank in payment of the Mareh FrCA and enployee income taxes. April 15 issued check to the State Tax Coemission for the January, February, and March state unemployment taxes. Filed the check and the first-quarter tax return with the Conmission. Apri1 30 Iesued cheek payable to swift Bank in payment of the enployer's rura taxes for the firat quarter of the year. April 30 filed Form 941 with the IAS, reporting the FICA taxes and the employees' federal income tax withholding for the first quarter. Required: Prepare joumal entries to record these transactions and events. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Journal entry worksheet 2345678 Record the cash payment of fICA (employees' and employer's) and employee income taxes of the month of February. Nots: fnter drbits before oreditai

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