Francisco Company has 20 employees, each of whom earns $2.500 per month and is paid on the last day of each month. All 20 have been employed continuously at this amount since January 1 On March 1, the following accounts and balances exstinis general ledger a. FICA-Social Security Taxes Payable. $6.200: FICA-Medicare Taxes Payable, $1,450. (The balances of these accounts represent total abilities for both the employer's and employees' FICA taxes for the February payroll only) b. Employees' Federal income Taxes Payable, $12.500 ab ty for February only c. Federal Unemployment Taxes Payable. $600 ability for January and February together d. State Unemployment Taxes Payable. $5.400 fiability 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 FICA taxes and employee income tax withholdings. The $20, 150 check is n payment of the February TICA 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 inued check payable to each employee in payment of the March payroll). The payroll register shows the following summary totals for the March pay period. Salaries Office Shop Gross Salaries Salaries Pay $20,000 $30,000 $50,000 TICA Taxes $3,100 $ 725 Federal Income Taxes $12,500 Net Pay $33,675 * FICA taxes are Social Security and Medicare, respectively. 31 Recorded the employer's payroll taxes resulting from the March payroll. The company has a state unemployment tax rate of 5.408 on the first $7,000 paid to each employee. The federal rate is 0.608. 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. Ylled the check and the first quarter tax return with the Commission. 30 Issued check payable to swift Bank in payment of the employers FUTA taxes for the first quarter of the year. 30 Tiled Form 941 with the IRS, reporting the FICA taxes and the employees federal income tax withholdings for the first quarter. Required: Prepare journal entries to record these transactions and events. If no entry is required for a particular transaction, select "No journal entry required in the first account field.) View transaction list Journal entry worksheet