Required information [The following information applies to the questions displayed below] BMX Company has one employee. FICA Social Security taxes are 62% of the first $160,200 paid to its employee, and FICA Medicare taxes are 145% of gross pay. For BMX, its FUTA taxes are 0.6% of the first $7,000 paid to its employee and SUTA taxes are 3% of the first $8,500 paid to its employee. BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $160,200 paid to its employee, and FCCA Medicare taxes are 1.45% of gross pay. For BMX, its FUTA taxes are 0.6% of the first $7,000 paid to its employee and SUTA taxes are 3% of the first $8,500 paid to its employee Assuming situation (a). prepare the employer's September 30 journal entry to record the employer's payroll taxes expense and it elated liabilities. Complete this question by entering your answers in the tabs below. Assuming situation (a), compute the payroll taxes expense. (Round your answers to 2 decimal places.)