Problem 11-2A Entries for payroll transactions P2 P3 On January 8, the end of the first weekly pay period of the year, Regis Company's employees earned $22,760 of office salaries and $65,840 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%, S12.860 of federal income taxes, $1,340 of medical insurance deductions, and $840 of union dues. No employee earned more than $7,000 in this first period. Required 1. Calculate FICA Social Security taxes payable and FICA Medicare taxes payable. Prepare the journal entry to record Regis Company's January 8 employee payroll expenses and liabilities. Round amounts to cents. 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%. Round amounts to cents. Check 1 Salaries Payable. 566.782 10 20 Payroll Tres Expense. $12.093.90