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) Social Security (FICA) tax rate $1,000.000 130,000 0.80% 5.40% 765% Record salaries expense and payroll tax expense for the January pay period. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Journal Entry Worksheet Record the employee salary expense and withholdings Debit Credit Jan 31 Enter debits before credits