Rand Company$$s payroll on December $31$ of the current year is as follows:

total payroll, $$500,000$

payroll in excess of $$147,000$ to each employee, $$350,000$

payroll in excess of $$7,000$ to each employee, $$400,000$

income taxes withheld, $$85,000$

union dues withheld, $$10,000$

tax rates: State unemployment tax, $5\mathrm{.}4\%$; FICA tax, $8\%$ for employees and $8\%$ for employers for any amounts over $$117,000$; federal unemployment tax, $0\mathrm{.}6\%$

REQUIRED:

Prepare the journal entries for Rand$$s payroll and payroll taxes.