Francisco Company has 10 employees, each of whom earns $3,000 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, $3,720; FICA-Medicare Taxes Payable, $870. (The balances of these accounts represent total liabilities for both the employer's and employees' FICA taxes for the February payroll only) b. Employces' Federal Income Taxes Payable, $7,500 (liability for February only) c. Federal Unemployment Taxes Payable, $360 (liability for January and February together). d. State Unemployment Taxes Payable, $2,400 (iability for January and February together), During March and April, the company had the following payroll transactions. Mar. 15 Issued check payable to switt Bank, a tederal depository bank authorized to accept employers' payments of FICA taxes and employee income tax withholdinga. The $12,090 check is in payment of the February rICA 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 shovs the following summary totals for the March pay period Salaries office Salaries Salaries 12,000 18,000 $ Federal Income Taxes Shop Gross pay PICA Taxes* Net Pay 30,0001,860 7,500$20,205 S 435