The following information about the payroll for the week ended December 30 was obtained from the records of Pharrell Co. Salaries: Sales salaries $402,000 210,000 165,000 $777,000 Warehouse salaries Office salaries Income tax withheld Social security tax withheld Medicare tax withheld Retirement savings Group insurance $135,975 48,820 11,655 17,094 13.986 $225,330 Tax rates assumed: Social security 6% 1.5% 5.4% 0.6% Medicare State unemployment (employer only) Federal unemployment (employer only) Instructions Medicare tax withheld Retirement savings Group insurance 11,655 17,094 13,986 $225,330 Tax rates assumed: Social security Medicare State unemployment (employer only) Federal unemployment (employer only) 6% 1.5% 54% 0.6% Required: 1. Assuning that the payroll for the last week of the year is to be paid on December 31, journalize the following entries (refer to the Chart of Accounts for exact wording of account ies) A. December 30, to recard the payrol B. December 30, to record the employer's payrol taxes on the payrol to be paid on December 31. Of the total payroll for the last week of the year, $40,000 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 folowing entries (refer to the Chart of Accounts for exact wording of account titles) 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