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Required information

Use the following information for the Exercises below. $($Algo$)$

$[$The following information applies to the questions displayed below.$]$

BMX Company has one employee. FICA Social Security taxes are $6\mathrm{.}2\%$ of the first $$137,700$ paid to its

employee, and FICA Medicare taxes are $1\mathrm{.}45\%$ of gross pay. For BMX$,$ its FUTA taxes are $0\mathrm{.}6\%$ and

SUTA taxes are $5\mathrm{.}4\%$ of the first $$7,000$ paid to its employee.

Exercise $9-8($Algo$)$ Payroll$-$related journal entries LO P$2$

Assuming situation $($a$),$ prepare the employer's September $30$ journal entry to record salary expense and its related

payroll liabilities for this employee. The employee's federal income taxes witheld by the employer are $$80$ for this pay

period.

Complete this question by entering your answers in the tabs below.

The employee's federal income taxes withheld by the employer are $$80$ for this pay period.

Assuming situation $($a$),$ compute the taxes to be withheld from gross pay for this

employee.

Note: Round your answers to $2$ decimal places.