Payroll and Payroll Taxes: Rand Company's payroll on December 31 of the current year is as follows: 1) total payroll, $500,000 2) payroll in excess of $100,000 to each employee, $350,000 3) payroll in excess of $7,000 to each employee, $400,000 4) income taxes withheld, $85,000 5) union dues withheld, $10,000 6) tax rates: State unemployment tax, 5.4%; F.I.C.A. tax, 6% for employees and 8% for employers for any amounts over $100,000; federal unemployment tax, 0.6%. Required: 1) Prepare the journal entries for Rand's payroll and payroll taxes