Joumalize period payroll The payroli reglster of Hentage Co, indicates $4,800 of sociel securty withheld and $1,200 or Medicare tax withheld on total salaries of $80,000 for the period. Federal withholding for the poriod totaled $17,540. Retirement savings withheld from employee paychecks were $3,200 for the period. goumatizo the entry to fecord the period's poyroll if on ambunt box does not require an entry, leave it biank. Remamber that net pay represents now mich the emptoyees are to receive from the gross earnings for a specific pay perlod, A portion af the gross earnings of the employees has to be allocated to taxes and other employoe elected deductions