On January 8, the end of the first weekly pay period of the year, Regis Company's payroll register showed that its employees earned $26,760 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%, $13,460 of federal income taxes, $1,460 of medical insurance deductions, and $800 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 6% of the first $7,000 paid each employee. The federal unemployment tax rate is 0.60%. (Round your answers to 2 decimal places.) Answer is complete but not entirely correct. Regis Company's: January 8 earnings Tax Rate Tax Amount subject to tax FICA-Social Security S FICA-Medicare FUTA SUTA 87,600 87,600 87,600 87,600 6.20% 1.45% 0.60% 3.00% 5,431.20 1,270.20 525.60 2,628.00 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.) Answer is complete but not entirely correct Date General Journal Debit 26,860.00 60,840.00 Credit Jan 08 Office salaries expense Sales salaries expense FICA-Social sec. taxes payable FICA-Medicare taxes payable Employee fed. inc. taxes payable Employee medical insurance payable Employee union dues payable Salaries payable 5,431.00 1,270.00 13,060.00 1,370.00 800.00 65,669.00 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 6% of the first $7,000 paid each employee. The federal unemployment tax rate is 0.60%. (Round your answers to 2 decimal places.) Answer is not complete. No Date General Journal Debit Credit