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On January 14, the end of the first pay period of the year, a company's employees earned $24,000 of salaries. Withholdings from the employees' salaries

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On January 14, the end of the first pay period of the year, a company's employees earned $24,000 of salaries. Withholdings from the employees' salaries include FICA Social Security taxes at the rate of 6.2%, FICA Medicare taxes at the rate of 1.45%, and $2,400 of federal income taxes. No employee carned more than $7,000 in this first period. Prepare the joumal entry to record the company's January 14 salaries expense and related liabilities. Journal entry worksheet Record the company's January 14 salaries expense and related liabilities. Note: Enter debits before credits

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