Problem 9-23A Accounting for payroll and payroll taxes LO 9-5 Electronics Service Co. pays salaries monthly on the last day of the month. The following information is available from Electronics for the month ended December 31, Year 1: Administrative salaries Sales salaries Office salaries $71,880 66,880 42,888 Assume the Social Security tax rate is 6.0 percent on the first $110,000 of salaries and the Medicare tax rate is 1.5 percent on all salaries. Duke reached the $110,000 amount in September. His salary in December amounted to $9,000 and is included in the $71,000. No one else will reach the $110,000 amount for the year. None of the employee salaries are subject to unemployment tax in December. Other amounts withheld from salaries in December were as follows: Federal income tax State income tax Employee savings plan $20,000 6, 280 3,1ee Required a. Prepare the journal entry to record the payment of payroll on December 31, Year 1. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the entry for payment of payroll on December 31, Year 1. Note: Enter debits before credits. Date Goneral Journal Debit Credit 12/31 Record the entry for payroll tax expense for Electronics Service Co. for December Year 1. Note: Enter debits before credits. Date General Journal Debit Credit 12/31