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eBookReferencesItem $15$

IE QS $9-8($Static$)$: Recording employee payroll taxes LO P$2$

On January $15,$ the end of the first pay period of the year, North Company$$s employees earned $$35,000$ of sales salaries. Withholdings from the employees$$ salaries include FICA Social Security taxes at the rate of $6\mathrm{.}2\%,$ FICA Medicare taxes at the rate of $1\mathrm{.}45\%,$ $$6,500$ of federal income taxes, $$772\mathrm{.}50$ of medical insurance deductions, and $$120$ of union dues. No employee earned more than $$7,000$ in this first period.

Prepare the journal entry to record North Company$$s January $15$ salaries expense and related liabilities.

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