t Exercise 11-10 Recording payroll The following monthly data are taken from Ramirez Company at July 31: sales salaries, $200,000; office aries $160,000; federal income taxes withheld, $90,000; state income taxes withheld, $20,000, Social Security taxes withheld, $22,320; Medicare taxes withheld, $5,220; medical insurance premiums, $7,000; P2 P3 insurance premiums, $4,000; union dues deducted, $1.000; and salaries subject to unemployment es $50,000. The employee pays 40% of medical and life insurance premiums. Prepare journal entries to record (1) accrued payroll, including employee deductions, for July: (2) cash pement of the net payroll (salaries payable) for July; (3) accrued employer payroll taxes, and other related ployment expenses, for July-assume that FICA taxes are identical to those on employees and that SUTA s are 5.4% and FUTA taxes are 0.6%; and (4) cash payment of all liabilities related to the July payroll. Exercise 11-11