Lee Financial Services pays employees monthly. Payroll information is listed below for January $2024,$ the first month of Lee$$s fiscal year. Assume that none of the employees exceeded any relevant base of pay, such that all benefit percentages apply to the entire $$570,000$ payroll.

Salaries $ $570,000$

Federal income taxes to be withheld $114,000$

Federal unemployment tax rate $0\mathrm{.}60\%$

State unemployment tax rate $5\mathrm{.}40\%$

Social security tax rate $6\mathrm{.}20\%$

Medicare tax rate $1\mathrm{.}45\%$

Required:

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.