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. ercise 9-9 (Algo) Payroll-related journal entries LO P3 uming situation (a), prepare the employer's September 30 journal entry to record the employer's payroll taxes expense and its ited liabilities. Complete this question by entering your answers in the tabs below. ssuming situation (a), compute the payroll taxes expense. (Round your answers to 2 decimal places.) QS 9-10 (Algo) Recording employer payroll taxes LO P3 Merger Company has 10 employees, each of whom earns $1,850 per month and has been employed since January 1 . FICA Social Security taxes are 6.2% of the first $137,700 paid to each employee, and FICA Medicare taxes are 1.45% of gross pay. FUTA taxes are 0.6% and SUTA taxes are 5.4% of the first $7,000 paid to each employee. Prepare the March 31 journal entry to record the March payroll taxes expense. (Round your answers to 2 decimal places.) Journal entry worksheet Note: Enter debits before credits