On January 8, the end of the first weekly pay period of the year, Regis Company's payroll register showed that its employees earned $27,760 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%, $13,560 of federal income taxes, $1,390 of medical insurance deductions, and $920 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. Regiss merit rating reduces its state unemployment tax rate to 5% of the first $7,000 paid each employee. The federal unemployment tax rate is 0.60%. (Round your answers to 2 decimal places.)

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.)

2. Prepare the journal entry to record Regiss (employer) payroll taxes resulting from the January 8 payroll. Regiss merit rating reduces its state unemployment tax rate to 5% 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: Tax FICA-Social Security FICA-Medicare FUTA SUTA January 8 earnings subject to tax Tax Rate Tax Amount 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 Record entry Clear entry View general journal 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