January 8, 2021 is the end of the first payroll period for ABC, Inc. Data for the payroll is as follows: Office salaries Sales salaries FICA - Social Security Withheld at 6.2% FICA - Medicare Taxes Withheld at 1.45% Federal Income Taxes (FIT) Withheld Medical Insurance Premium Withheld Union Dues Withheld 22,760.00 65,840.00 5,493.20 1,284.70 12,860.00 1,340.00 840.00 Note 6.2%= .062 Note 1.45% = .0145 Employer's portion of FICA-Social Security at 6.2% Employer's portion of FICA-Medicare at 1.45% 5,493.20 1,284.70 Unemployment (State) Insurance Premium at 5.4% 4,784.40 Note 5.4%= .054 Unemployment (Federal) Insurance Premium at .6% 531.60 Note: .6% = .006 Note: Companies do not round to the nearest dollar with respect to payroll. All calculations are rounded to the nearest penny. Using the attached T-account template below (or prepare an equation" presentation using a spreadsheet format), prepare the entries to recognize the following events. a. Recognition and payment of the payroll dated 1/8/21 Recognition of the employer's obligation (payment is not due for 3 days) for FICA. Recognition of the employer's insurance obligation (payment is not due for 10 days) for state and federal unemployment insurance. c. LIABILITIES + EQUITY ASSETS Non-current Assets Property, Plant & Equipment Investments Intangible Assets/Other Non-Current Liabilities Contributed Capital Accumulated OCI Current Assets Current Liabilities Earned Capital Saved to my Mac