Francisco Company has 10 employees, each of whom earns $2.900 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 $3,596. ACA-Medicare Taxes Payable, $842. (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, $7.250 liability for February only) c. Federal Unemployment Taxes Payable, $348 (iability for January and February together). d. State Unemployment Taxes Payable, $3,132 Mability for January and February together). The company had the following payroll transactions Mar. 15 Issued check payable to Swift Bank, a federal depository bank authorized to accept employers' payments of ICA taxes and employee income tax withholdings. The $11,688 check is in paynent of the February FICA and employee Income taxes 31. Recorded the journal entry for the March salaries payable. Then recorded the cash payment of the March payroll (the company issued checks payable to each employee in payment of the March payroll). The payroll register shows the following sunary totals for the March pay period. Salaries office Salaries $11,600 Shop Salaries 517,400 Gross Pay $ 29,000 FICA Taxes $ 1,795 $ 421 Federal Income Taxes $7.250 Net Pay $19,531 -FICA taxes are Social Security and Medicare, respectively 31 Recorded the employer's payroll taxes resulting from the Harch payroll. The company has a state unemployment tax rate of 5.40% on the first $7,000 paid to each employee. The federal rate is 0.60% Apr. 15 Issued check to Swift Bank in payment of the March FICA and employee Income taxes. 15 Issued check to the State Tax Commission for the January, February, and March state unemployment taxes. Filed the check and the first quarter tax return with the Commission 30 Issued check payable to Swift Bank in payment of the employer's PUTA taxes for the first quarter of the year. 30 Filed Fore 941 with the IRS, reporting the FICA taxes and the employees federal income tax withholdings for the first quarter. Required Journal entry worksheet 2 3 5 6 8 Record the cash payment of FICA (employees' and employer's) and employee income taxes of the month of February Note: Enter debits before credits. Date General Journal Debit Credit Mar 15 Record entry Clear entry View general journal transaction list ournal entry worksheet 6 7 8 > Record the employee) payroll expenses and liabilities for the month of March. Note: Enter debits before credits. Date General Journal Debit Credit Mar 31 Clear entry View general journal Record entry Journal entry worksheet