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2. Assuming that the wages for the week ended March 22 were paid on March 24 , prepare the journal entry for the payment of the payroll. Payroll Register and Payroll Joumal Entry Mary Losch operates a travel agency called Mary's Luxury Travel. She has five employees, all of whom are paid on a weekly basis. The travel agency uses a payroll register, individual employee earnings records, and a general journal. Mary's Luxury Travel uses a weekly federal income tax withholding table. Refer to Figure 84 in the text. The payroll data for each employee for the week ended March 22,20, are shown. Employees are paid 1% times the regular rate for working over 40 hours a week. Social Security tax is withheld from the first 5128,400 of earnings at the rate of 6.2%. Medicare tax 15 withineld at the rate of 1.45%, and city earnings tax at the rate of 1%, both applied to gross pay. Bacon and Leung have $13 withheld and Cole and Hicks have $7 withheld for health insurance. Bacon and Leung have $20 withheld to be invested in the travel agency's credit union. Cole has $38.75 withheld and Hicks has $18,00 withheld under a savings bond purchase plen. Mary's Luxury Travel's payroll is met by drawing checks on its regular bank account. The checks were issued in sequence, beginning with Check No. 423. Reouired: 1. Prepare a payroil register for Mary's Luxury Travel for the week ended March 22, 20 . (in the Taxable Earnings/Unemployment Compensation column, enter the same amounts as in the Social Secunty column.) Total the amount columns. If required, round your answers to the nearest cent. 2. Assuming that the wages for the week ended March 22 were paid on March 24, prepare the journal entry for the payment of the payroil S\& Register for Period Ended March 22 Earnings Deductions Earnings Federal Income Social Security Health of the Activate Windows March 22 20= Activate Windows [8 of of 928PM 12/14/202 2. Assuming that the wages for the week ended March 22 were paid on March 24 , prepare the journal entry for the payment of the payroll. Payroll Register and Payroll Joumal Entry Mary Losch operates a travel agency called Mary's Luxury Travel. She has five employees, all of whom are paid on a weekly basis. The travel agency uses a payroll register, individual employee earnings records, and a general journal. Mary's Luxury Travel uses a weekly federal income tax withholding table. Refer to Figure 84 in the text. The payroll data for each employee for the week ended March 22,20, are shown. Employees are paid 1% times the regular rate for working over 40 hours a week. Social Security tax is withheld from the first 5128,400 of earnings at the rate of 6.2%. Medicare tax 15 withineld at the rate of 1.45%, and city earnings tax at the rate of 1%, both applied to gross pay. Bacon and Leung have $13 withheld and Cole and Hicks have $7 withheld for health insurance. Bacon and Leung have $20 withheld to be invested in the travel agency's credit union. Cole has $38.75 withheld and Hicks has $18,00 withheld under a savings bond purchase plen. Mary's Luxury Travel's payroll is met by drawing checks on its regular bank account. The checks were issued in sequence, beginning with Check No. 423. Reouired: 1. Prepare a payroil register for Mary's Luxury Travel for the week ended March 22, 20 . (in the Taxable Earnings/Unemployment Compensation column, enter the same amounts as in the Social Secunty column.) Total the amount columns. If required, round your answers to the nearest cent. 2. Assuming that the wages for the week ended March 22 were paid on March 24, prepare the journal entry for the payment of the payroil S\& Register for Period Ended March 22 Earnings Deductions Earnings Federal Income Social Security Health of the Activate Windows March 22 20= Activate Windows [8 of of 928PM 12/14/202