ielected information from the payroll register of Howard's Cutlery for the week ended October 7, 20-, is presented. Social Security tax is 6.2% on the first 128,400 of earnings for each employee. Medicare tax is 1.45% on gross eamings. FUTA tax is 0.6% and SUTA tax is 5.4% on the first $7,000 of earnings. Howard's Cutlery General Ledger ASSETS REVENUE 101 Cash 401 Sales 122 Accounts Receivable 141 Supplies EXPENSES 181 Office Equipment 511 Wages Expense 512 Advertising Expense LIABILITIES 513 Bank Credit Card Expense 202 Accounts Payable 514 Store Supplies Expense. 212 Social Security Tax Payable 515 Travel and Entertainment Expense 213 Medicare Tax Payable 530 Payroll Taxes Expense 219 Wages Payable 549 Miscellaneous Expense 221 FUTA Tax Payable In Chart of Accounts 122 Accounts Receivable Se 141 Supplies EXPENSES 181 Office Equipment 511 Wages Expense 512 Advertising Expense LIABILITIES 513 Bank Credit Card Expense 202 Accounts Payable 514 Store Supplies Expense 212 Social Security Tax Payable 515 Travel and Entertainment Expense 213 Medicare Tax Payable 530 Payroll Taxes Expense 219 Wages Payable 549 Miscellaneous Expense 221 FUTA Tax Payable 222 SUTA Tax Payable EQUITY 311 Owner's Capital 312 Owner's Drawing Name Carison, David J. \begin{tabular}{|l|l|} \hline Current Earnings & Unemploy. Comp. \\ \hline$ \\ \hline \end{tabular} Delgado, Luisa Lewis, Arlene S. Nixon, Robert R. Shippe, Lance W. Watts, Brandon Q. Total Social Security tax Medicare tax FUTA tax SUTA tax General Journal 2. Prepare the journal entry to record the employer's payroll taxes as of Oclober 7,20 General Journal Instructions PAGE 1 GENERAL JOURNAL Tc DATE ACCOUNT TITLE POST. REE. CREDIT