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 596,000 57.000 Assume the Social Security tax rate is 6 percent on the first $110,000 of salaries and the Medicare tax rate is 15 percent on all salaries Duke reached the $110,000 amount in September. His salary in December amounted to $11.500 and is included in the $96,000 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 salaties in December were as follows Federal Incose tax State income tax Employee savings plan $21.500 11,200 Required 6. 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.) b. Prepare the journal entry to record the payroll tax expense for Electronics Service Co for December Year 1 (if no entry is required for a transaction/event, select "No journal entry required in the first account field.)