roll Liabilities Saved Problem 11-2AEntries for payroll transactions LO P2, P3 On January 8, the end of the first weekly pay pertod of the year, Regis Company's payroll register showed that its employees earned $24,760 of office salartes and $60,840 of sales salaries. Withholdings from the employees' salaries Include FICA Social Securty taxes at the rate of 6.20% FICA Medicar taxes at the rate of 1.45%, $12,960 of federal Income taxes, $1,430 of medical Insurance deductions, and $860 of unlon dues. No employee earned more than $7,000 in this first period. Required: 1.1 Calculate below the amounts for each of these four taxes of Regis Company. Regis's merit rating reduces its state unemployment tax rate to 2% of the first $7,000 paid each employee. The federal unemployment tax rate is 0.60% (Round your answers to 2 declmal places.) Regis Company's: January 8 eanings subject to tax Tax Tax Rate Tax Amount FICA-Social Security FICA-Medicare FUTA SUTA 1.2 Prepare the journal entry to record Regis Company's January 8 (emplovee) payroll expenses and llabilities. (Round your answers to 2 decimal places.) 11 Payroll Liabilities Sarved 1.2 Prepare the journal entry to record to 2 decimal places.) Regis Company's January 8 (employee) payroll expenses and llabilittes. (Round your answers View transaction list Journal entry worksheet 3 of 5 Prey A