On January 8, the end of the first weekly pay period of the year, Regis Company's payroll register showed that its employees earned $23,760 of office salaries and $60,840 of sales salaries Withholdings from the employees' salaries include FICA Social Security taxes at the rate of 6.20%, FICA Medicare taxes at the rate of 1.45%, $12.960 of federal income taxes. $1,330 of medical insurance deductions, and $880 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 merit rating reduces its state unemployment tax rate to 2% of the first $7,000 paid each employee. The federal unemployment tax rate is 0.60% (Round your answers to 2 decimal places.) Regis Company's: January 8 earnings Tax Rate subject to tak Tax Amount FICA-Social Security FICA-Medicare FUTA SUTA 1.2 Prepare the journal entry to record Regis Company's January 8 (employee) payroll expenses and liabilities. (Round your answers to 2 decimal places.) View transaction list Journal entry worksheet 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 2. Prepare the journal entry to record Regis's (employer) payroll taxes resulting from the January 8 payroll. Regis's merit rating reduces its state unemployment tax rate to 2% of the first $7,000 paid each employee. The federal unemployment tax rate is 0.60%. (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 General Journal Debit Credit Date Jan 08