M10-4 Reporting Payroll Tax Liabilities [LO 10-2] Lightning Electronics is a midsize manufacturer of lithium batteries. The company's payroll records for the November 1-14 pay period show that employees eamed wages totaling $54,000 but that employee income taxes totaling $7,800 and FICA taxes totaling $2,825 were withheld from this amount. The net pay was directly deposited into the employees' bank accounts. Assume Lightning Electronics must also pay $290 of unemployment taxes for this pay period. entry or entries that Lightning would use to record the payrol. Include both emp Prepare the journal entry or entries that Lightning would use to record the payroll. Include both and employer taxes. (f no entry is required for a transaction/evont,selecTNo Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Record the wages expense for November 1-14 time period, including payroll deductions Note: Enter debits before cred ts. Transaction General Journal DebitCredit Record entry clear entry View general journal ezto. o.mheducati Chapter 10 HW M10-4 Reporting Payroll Tax Liabilities [LO 10-2] Lightning Electronics is a midsize manufacturer of lithium batteries. The company's payroll records for the November 1-14 pay period show that employees eaned wages totaling $54,000 but that employee income taxes totaling $7,800 and FICA taxes totaling $2,825 were withheld from this amount. The net pay was directly deposited into the employees' bank accounts. Assume Lightning Electronics must also pay $290 of unemployment taxes for this pay period Prepare the joumal entry or entries that Lightning would use to record the payroll. Include both employee and employer taxes. (If no entry is required for a transaction/event, select "No Journal Entry Required In the first account field.) View transaction list ournal entry worksheet Record the payroll tax expense Note: Enter debits before credits. General Journal Debit Credit Clear entry View general journal Record entry