Problem 11-2A (Algo) Entries for payroll transactions LO P2, P3 On January 8, the end of the first weekly pay period of the year, Regis Company's employees earned $23,760 of office salaries and $70,840 of sales salaries. Withholdings from the employees' salaries include FICA Social Security taxes at the rate of 6.2%, FICA Medicare taxes at the rate of 1.45%, $13,160 of federal income taxes. $1.400 of medical insurance deductions, and $840 of union dues. No employee earned more than $7,000 in this first period. Required: 1-a. Calculate below the amounts for each of these four taxes of Regis Company, Regla's state unemployment tax rate is 5,4% of the first $7,000 pald to each employee. The federal unemployment tax rate is 0,6%. 1-b. Prepare the journal entry to record Regis Company's January 8 employee payroll expenses and liabilities. 2. Prepare the journal entry to record Regis's employer payroll taxes resulting from the January 8 payroll. Regis's state unemployment tax rate is 5.4% of the first $7,000 paid to each employee. The federal unemployment tax rate is 0.6%. Reg 1A Reg 1B Reg 2 Calculate below the amounts for each of these four taxes of Regis Company. Regis's state unemployment tax rate is 5.4% of the first $7,000 paid to each employee. The federal unemployment tax rate is 0.6%. (Round your answers to 2 decimal places.) Regis Company's: January 8 Earnings Tax Rato Tax Amount Subject to Tax FICA-Social Security FICA-Medicare FUTA SUTA Ragna Req 18 > Journal entry worksheet 1 Record the employee payroll expenses and liabilities for the first weekly pay period of the year. Note: Enter debits before credits. General Journal Debit Credit Date January 08 Record entry Clear entry View general Journal Journal entry worksheet