The following information about the weekly payroll was obtained from the records of Saine Co.: Salaries: Deductions: Sales salaries Warehouse salaries $ 625,000 Income tax withheld $232,260 240,000 U.S. savings bonds 35,500 Office salaries 320,000 Group insurance 53,325 $1,185,000 Tax rates assumed: Social security, 6% Medicare, 1.5% State unemployment (employer only), 5.4% Federal unemployment (employer only), 0.8% Instructions 1. Assuming that the payroll related to the first full week of the year and was paid on January 11, journalize the following entries: Answer + a. January 11, to record the payroll. b. January 11, to record the employer's payroll taxes on the payroll for the first full week of the year. Because it is a new fiscal year, all $1,185,000 in salaries is subject to unemployment compensation taxes. 2. Assuming that the payroll related to the last week of the year and was paid on December 31, journalize the following entries: a. December 31, to record the payroll. b. December 31, to record the employer's payroll taxes on the payroll for the last week of the year. Of the total payroll for the last week of the year, $30,000 is subject to unemployment compensation taxes.