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Merger Co. has 10 employees, each of whom earns $2,000 per month and has been employed since January 1, FICA Social Security taxes are 6.2%

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Merger Co. has 10 employees, each of whom earns $2,000 per month and has been employed since January 1, FICA Social Security taxes are 6.2% of the first $128.400 paid to each employee, and FICA Medicare taxes are 1.45% of gross pay. FUTA taxes are 0.6% and SUTA taxes are 5.4% of the first $7,000 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 Journal entry worksheet 1 > Record employer payroll taxes Notet Enter debits before credits Debit Credit Dato Mar 31 General Journal Payroll taxes expense FICA-Medicare taxes payable FICA-Social security taxes payable Federal unemployment taxes payable State unemployment taxes payable Record entry Clear entry View general Journal

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