s (124 points): Show your calculations to earn ful 1. Record journal entries for transactions or events related to current liabilities. A. Total salaries and wages of Walnut Co. was $1,540,000, of which $220,000 represented amounts in excess of the maximum limit of social security tax to certain employees (i.e., the amount within the limit is $1,320,000). Amount of the total salaries and wages in excess of the limit for unemployment tax was $1,140,000 (i.e., the amount within the limit is $400,000). Income taxes withheld were $450,000. The state unemployment tax is 4%, the federal unemployment tax is 0.8%, and the F.I.C.A. tax is 7.65% on an employee's salaries and wages up to the maximum limit, and 1.45% on an employee's salaries and wages in excess of the limit. Required (12 points): Prepare the journal entries to record salary & wage expense and payroll taxes expense. following 000,0 aldimen B. The Admiral Company estimated that $0.10 of warranty costs will be incurred for each $1 of sales. In 2022, Admiral's sales were $800,000, and payments arising out of warranty obligations were $36,000. Required (6 points): Prepare the 2022 journal entry(ies) for warranty expense and payments using the expense warranty accrual method. ref