On January 8, the end of the first weekly pay period of the year, Regis Company's employees earned $21,760 of office salaries and $70,840 of sales 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% , $13,260 of federal income taxes, $1,410 of medical insurance deductions, and $820 of union dues. No employee earned more than $7,000 in this first period. Required: 1.1 Calculate below the amounts for each of these four taxes of Regis Company. Regis's state unemployment tax rate is 5.4 % of the first $7,000 paid to each employee. The federal unemployment tax rate is 0.6%. 1.2 Prepare the journal entry to record Regis Company's January 8 employee payroll expenses and liabilities. 2. Prepare the journal entry to record Regis's employer payroll taxes resulting from the January 8 payroll. Regis's state unemployment tax rate is 5.4% of the first $7,000 paid to each employee. The federal unemployment tax rate is 0.6 %. Journal entry worksheet 1 Record the employee payroll expenses and liabilities for the first weekly pay period of the year. Note: Enter debits before credits. Date General Journal Debit Credit Jan 08 Record entry Clear entry View general journal Prepare the journal entry to record Regis's employer payroll taxes resulting from the January 8 payroll. Regis's state unemployment tax rate is 5.4 % of the first $7,000 paid to each employee. The federal unemployment tax rate is 0.6 %. (Round your answers to 2 decimal places.) View transaction list Journal entry worksheet Record the employer's payroll expenses and liabilities for the first weekly pay period of the year. Note: Enter debits before credits. Date General Journal Debit Credit Jan 08 Record entry Clear entry View general journal