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Problem 9-23A Accounting for payroll and payroll taxes LO 9-5 Electronics Service Co. pays salarles monthly on the last day of the month. The following

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Problem 9-23A Accounting for payroll and payroll taxes LO 9-5 Electronics Service Co. pays salarles monthly on the last day of the month. The following Information is avallable from Electronics for the month ended December 31, Year 1: Administrative salaries Sales salaries Office salaries $77,000 60,000 44,800 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 $8,000 and is included in the $77000. No one else will reach the $110,000 amount for the year. None of the employee salarles are subject to unemployment tax In December Other amounts withheld from salarles in December were as follows: Federal income tax State income tax Employee savings plan $20,000 6,800 2,700 Required a. Prepare the Journal entry to record the payment of payroll on December 31, Year 1 (f no entry is required for a transaction/event, select "No Journal entry required" In the first account fleld.) View transaction list Journal entry worksheet Record the entry for payment of payroll on December 31, Year 1. Noter Enter debits before credits Date General Journal Debit Credit 12/31 Record entry Clear entry View general journal 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.) View transaction list Journal entry worksheet 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 Record entry Clear entry View general journal

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