QS $11-6$ Recording employer payroll taxes LO P$3$

Merger Co$.$ has $10$ employees, each of whom earns $$2,000$ per month and has been employed since January $1.$ FICA Social Security taxes are $6\mathrm{.}2\%$ of the first $$118,500$ paid to each employee, and FICA Medicare taxes are $1\mathrm{.}45\%$ of gross pay. FUTA taxes are $0\mathrm{.}6\%$ and SUTA taxes are $5\mathrm{.}4\%$ of the first $$7,000$ paid to each employee.

Prepare the March $31$ journal entry to record the March payroll taxes expenses.

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$ox$

$\backslash$table$[[,$No$,$Date,General Journal,Debit,Credit$],[0,1,$Mar $31,$Payroll taxes expense,$5,130,],[,,$FICA$$Social security taxes payable,,$1,240],[,,$FICA$$Medicare taxes payable,,$290],[,,$Federal unemployment taxes payable,,$360],[,,$State unemployment taxes payable,,$3,240]]$