On January 8, the end of the first weekly pay period of the year, Regis Company's employees earned $27,760 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%, $12,960 of federal income taxes, $1,440 of medical insurance deductions, and $900 of union dues. No employee earned more than $7,000 in this first period. Required: 1-a. 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-b. 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%. Req 1A Req 1B Req 2 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%. (Round your answers to 2 decimal places.) Regis Company's: January 8 Earnings Tax Tax Rate Subject to Tax Tax Amount FICA-Social $ 98,600 6.20% $ 6,113.20 Security FICA-Medicare 98,600 1.45% 1,429.70 FUTA 98,600 0.60% 591.60 SUTA 98,600 5.40% 5,324.40 Req 1A Req 1B Req 2 Prepare the journal entry to record Regis Company's January 8 employee payroll expenses and liabilities. (Round your answers to 2 decimal places.) No 1 Date January 08 General Journal Office salaries expense Sales salaries expense FICA-Social security taxes payable FICA-Medicare taxes payable Employee federal income taxes payable Employee medical insurance payable Employee union dues payable Salaries payable Debit Credit 27,760.00 70,840.00 6,113.20 1,429.70 12,660.00 1,360.00 940.00 76,097.10