Payroll Tax Entries

According to a summary of the payro;; of Bailik Co., $880,000 was subject to the 6.0% social security tax and the 1.5 % Medicare tax. Also, $ 40,000 was subject to state and federal unemployment taxes.

a. Calculate the employer's payroll yaxes, using the folloeing rates: state unemployment, 5.4%; federal unemployment ,0.8%. $ _______.

b. Journalize the entry to record the accrual of payroll taxes.