The following information about the payroll for the week ended December 30 was obtained from the records of Pharrell Co.:

Salaries: Sales salaries$325,000 Warehouse salaries192,000 Office salaries137,000 $654,000 Deductions: Federal income tax withheld$116,200 Social security tax withheld39,240 Medicare tax withheld9,810 Retirement savings14,388 Group insurance11,772 $191,410 Tax rates assumed: Social security6%Medicare1.5%State unemployment (employer only)5.4%Federal unemployment (employer only)0.6%

Required:

1.

Assuming that the payroll for the last week of the year is to be paid on December 31, journalize the following entries

a.December 30, to record the payroll.b.December 30, to record the employer's payroll taxes on the payroll to be paid on December 31. Of the total payroll for the last week of the year, $45,000 is subject to unemployment compensation taxes.2.

Assuming that the payroll for the last week of the year is to be paid on January 5 of the following fiscal year, journalize the following entries

a.On page 11 of the journal: December 30, to record the payroll.b.On page 12 of the journal: January 5, to record the employer's payroll taxes on the payroll to be paid on January 5. Because it is a new fiscal year, all salaries are subject to unemployment compensation taxes