Lee Financial Services pays employees monthly. Payroll information is listed below for January 2024, the first month of Lee's fiscal year Assume that none of the employees exceeded any relevant base of pay, such that all benefit percentages apply to the entire $500,000 payroll. Salaries Federal income taxes to be withheld Federal unemployment tax rate State unemployment tax rate Social security tax rate Medicare tax rate Required: $ 500,000 100,000 0.60% 5.40% 6.20% 1.45% Calculate the income and payroll taxes for the January 2024 pay period. Prepare the appropriate journal entries to record salaries expense and payroll tax expense for the January 2024 pay period. Salaries are not yet paid. Complete this question by entering your answers in the tabs below. Payroll Tax General Journal Calculate the income and payroll taxes for the January 2024 Day period.