Instructions The payroll register of Heritage Co. indicates $14,200 of social security withheld and $3,570 of Medicare tax withheld on total salaries of $230,000 for the period. Earnings of $30.000 are subject to state and federal unemployment compensation taxes at the federal rate of 0.80% and the state rate of 6.40% Joumalize the entry to record the payroll tax expense for the period. Refer to the Chart of Accounts for exact wording of accounts Chart of Accounts ASSETS 110 Cash 111 Accounts Receivable REVENUE 410 Sales 610 Interest Revenue 112 Interest Receivable 113 Notes Receivable EXPENSES 510 Cost of Goods Sold 115 Inventory 116 Supplies 118 Prepaid Insurance 120 Land 123 Building 124 Accumulated Depreciation-Building 125 Office Equipment 126 Accumulated Depreciation Office Equipment 520 Salaries Expense 524 Depreciation Expense-Building 525 Delivery Expense 526 Repairs Expense 529 Selling Expenses 531 Rent Expense 532 Depreciation Expense-Office Equipment 533 Insurance Expense 534 Supplies Expense 535 Payroll Tax Expense 536 Vacation Pay Expense 537 Pension Expense 538 Cash Short and Over LIABILITIES 210 Accounts Payable 213 Interest Payable 214 Notes Payable 215 Salaries Payable Check My Work 3 more Check My Work uses remaining. 533 Insurance Expense 534 Supplies Expense 535 Payroll Tax Expense 536 Vacation Pay Expense 537 Pension Expense 538 Cash Short and Over 539 Product Warranty Expense 540 Miscellaneous Expense LIABILITIES 210 Accounts Payable 213 Interest Payable 214 Notes Payable 215 Salaries Payable 216 Social Security Tax Payable 217 Medicare Tax Payable 218 Employees Federal Income Tax Payable 219 Employees State Income Tax Payable 221 Retirement Savings Deductions Payable 224 Federal Unemployment Tax Payable 225 State Unemployment Tax Payable 226 Vacation Pay Payable 227 Unfunded Pension Liability 228 Product Warranty Payable 710 Interest Expense EQUITY 310 Common Stock 211 Retainer minne Cork My Work 3 more Check My Work uses remaining IS OST Pension cxpense 538 Cash Short and Over 539 Product Warranty Expense 540 Miscellaneous Expense 710 Interest Expense 214 Notes Payable 215 Salarles Payable 216 Social Security Tax Payable 217 Medicare Tax Payable 218 Employees Federal Income Tax Payable 219 Employees State Income Tax Payable 221 Retirement Savings Deductions Payable 224 Federal Unemployment Tax Payable 225 State Unemployment Tax Payable 226 Vacation Pay Payable 227 Unfunded Pension Liability 228 Product Warranty Payable EQUITY 310 Common Stock 311 Retained Earnings 312 Dividends 313 Income Summary