The following monthly data are taken from Ramirez Company at July 31: Sales salaries, $700,000; Office salaries, $140,000; Federal income taxes withheld, $210,000; State income taxes withheld, $47,000; Social security taxes withheld, $52,080; Medicare taxes withheld, $12,180; Medical insurance premiums, $17,000; Life insurance premiums, $14,000; Union dues deducted, $11,000; and Salaries subject to unemployment taxes, $70,000. The employee pays 40% of medical and life insurance premiums. Assume that FICA taxes are identical to those on employees and that SUTA taxes are 5.4% and FUTA taxes are 0.6%. 1. & 2. Using the above information, complete the below table and prepare the journal entries to record accrued payroll, including employee deductions, and cash payment of the net payroll (salaries payable) for July. 3. Using the above information, complete the below table. 4. Record the accrued employer payroll taxes and other related employment expenses and the cash payment of all liabilities related to the July payroll-assume that FICA taxes are identical to those on employees and that SUTA taxes are 5.4% and FUTA taxes are 0.6%. Req 1 and 2 Req 3 Req 4 Using the above information, complete the below table and prepare the journal entries to record accrued payroll, including employee deductions, and cash payment of the net payroll (salaries payable) for July. Date Employee Medical Insurance Payable Employee Life Insurance Payable General Journal Total Premium Percentage Paid by Employees Premium Paid by Employees Premium Paid by Employer $ 17,000 40% $ 6,800 $ 10,200 $ 14,000 40% $ 5,600 $ 8,400 Debit Credit Record journal entry for accrued payroll, including employee deductions, for July. July 31 Payroll taxes expense FICA-Social security taxes payable 101,460 52,080 FICA-Medicare taxes payable State unemployment taxes payable Federal unemployment taxes payable Employee medical insurance payable 12,180 10,200 8,400 10,200 Employee life insurance payable 8,400 Record the cash payment of salaries. July 31 < 1 2 3 Record all employer's payroll expenses and liabilities for the month of July. Note: Enter debits before credits. Date July 31 General Journal Payroll taxes expense FICA-Social security taxes payable FICA-Medicare taxes payable State unemployment taxes payable Federal unemployment taxes payable Debit Credit 101,460 52,080 12,180 10,200 8,400 Record entry Clear entry View general journal Journal entry worksheet 2 3 Record the employer's benefit expense. Note: Enter debits before credits. Date July 31 General Journal Debit Credit Record entry Clear entry View general journal