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 $27760 of offce salaries and $60.840 of sales salaries. Withholdings from the employees' salaries include FICA Social Security taxes at the rate of 6,2%, FCA Medicare taxes at the rate of 1.45\%, 13,560 of federal income taxes, $1,340 of medical insurance deductions, and $880 of union dus: 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. Regis's state unemployment tax rate is 5.476 of the first $7,000 paid 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 liablities, 2. Prepare the joumal entry to record Regis's employer payroll taxes resulting from the January 8 payroll Regis's state unemploymert tax rate is 5.4% of the first $7,000 paid to each employee. The federal unemployment tax rate is 0.6% Complete this question by entering your answers in the tabs below. Calculate below the amounts for each of these four taxes of Regis Company. Regis's state unemployment tax rate is 5.4% of Calculate below the amounts first $7,000 paid to each employe. The federal unemployment tax rate is 0.6%. Complete this question by entering your answers in the tabs below. Calculate below the amounts for each of these four taxes of Regis Company. Regis's state unemployment taxate is 5.45 . the first $7,000 paid to each employee. The federat unemployment tax rate is 0.6%. Note: Round your answers to 2 decimal places. ote: Pound your answers to 2 dedinal placos. Journal entry worksheet Record the employee payroll expenses and liabilities for the first weekly pay period of the year. rate is 5.4% of the first $7,000 paid to each emplovee. The federal unemployment tax rate is 0.6%. Note: Round your answers to 2 decmal places. Journal entry worksheet Record the employer's payroll expenses and liabilities for the first weekly pay period of the year