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 6.2% of the first $137,700 paid to its employee, and FICA Medicare taxes are 1.45% of gross pay, For BMX, its FUTA taxes are 0.6% and SUTA taxes are 5.4% of the first $7,000 paid to its employee a. b. Gross Pay through Gross Pay for August 31 September $ 6,800 $ 700 2,400 2,500 131,800 8,400 Exercise 9-8 (Algo) Payroll-related journal entries LO P2 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 withheld by the employer are $70 for this pay period. Exercise 9-8 (Algo) Payroll-related journal entries LO P2 Assuming situation (a), prepare the employer's September 30 journal entry to record salary expense and its related payroll liabilities fo this employee. The employee's federal income taxes withheld by the employer are $70 for this pay period. Answer is not complete. Complete this question by entering your answers in the tabs below. Taxes to be General Withheld From Gross Pay Journal The employee's federal income taxes withheld by the employer are $70 for this pay period. Assuming situation (), compute the taxes to be withheld from gross pay for this employee. (Round your answers to 2 decimal places.) Taxes to be Withheld From Gross Pay (Employee-Pald Taxes) September Earnings Subject Tax Rate Tax to Tax Amount Federal income tax 70.00 FICA-Social Security $ 137,700.00 6.20% 8,537.40 FUTA 137,700.00 1.45% 1,996.65 Total taxes withheld $ 10,604.05 Kate Whole From Pay General Journal >