Midwest Shipping pays employees at the end of each month. Payroll information is listed below for January, the first month of the fiscal year. Assume that none of the employees exceeds the Federal unemployment tax maximum salary of $8,000 in January. Salaries Federal and state income ta Federal unemployment tax ri State unemployment tax rat deduction) Social Security (FICA) tax Record salaries expense and payroll tax expense for the January pay period. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Journal entry worksheet 1 2 Record the employee salary expense and Note: Enter debits before credits. Date General Jo Jan 31 Salaries Expense Income Tax Payable FICA Tax Payable Salaries Payable Record entry Clear entry Journal entry worksheet < 1 2 Record the employer payroll taxes. Note: Enter debits before credits. Date General Jo Jan 31 Payroll Tax Expense FICA Tax Payable Unemployment Tax Payable Unemployment Tax Payable Record entry Clear entry Midwest Shipping pays employees at the end of each month. Payroll information is listed below for January, the first month of the fiscal year. Assume that none of the employees exceeds the Federal unemployment tax maximum salary of $8,000 in January. Salaries Federal and state income taxes withheld Federal unemployment tax rate State unemployment tax rate (after FUTA deduction) $900,000 130,000 0.80% 5.40% Federal and state income taxes withheld Federal unemployment tax rate Salaries $900,000 130,000 0.80% State unemployment tax rate (after FUTA deduction) 5.40% 7.65% Social Security (FICA) tax rate Record salaries expense and payroll tax expense for the January pay period. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the Journal entry worksheet < 1 2 Record the employee salary expense and withholdings. Note: Enter debits before credits. Date General Journal Debit Credit Jan 31 Salaries Expense 900,000