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Merger Co has 10 employees, each of whom earns $1700 per month and has been employed since January 1. FICA Social Security taxes are 62%

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Merger Co has 10 employees, each of whom earns $1700 per month and has been employed since January 1. FICA Social Security taxes are 62% of the first $128.400 paid to each employee, and FICA Medicare taxes are 145% of gross pay. FUTA taxes are 0.6% and SUTA taxes are 5.4% of the first $7000 paid to each employee Prepare the March 31 journal entry to record the March payroll taxes expenses. (Round your answers to 2 decimal places.) View transaction list View journal entry worksheet No Date Mar 31 Debit Credit General Journal Payrols open FICA-Social security payable FICA Medicare payable State unemployments payable Federal unemployment taxes parable

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