the following payroll information for the week LO 1,2,3,4,5 Earnings at End of Previous Daily Time Week 7,800.00 2,060.00 2,085.00 888 Name Federal Pay Income Tax Arthur, P Bills, D Carney, W 8 45.00 88888 12.50 234.70 27.00 88 12.95 748.00 2,687.00 888 4,150.00 28.00 Dorn, J Edgar, L. Fitzwilson, G 12.00 38.00 127.00 22.00 88 15.00 8 888 23.00 vable earnings for Social Security are based on the first s113,700. Taxable for Medicare are based on all earnings. Taxable earnings for federal and state earmployment are based on the first $7,000. Employees are paid time-and-a-half for work in excess of 40 hours per week. Required Complete the payroll register. The Social Security tax rate is 6.2 percent, and the 1. Medicare tax rate is 1.45 percent. Begin payroll checks with No. 2080. Prepare a general journal entry to record the payroll. The frm's general ledgen contains a Wages Expense account and a Wages Payable account. 2. 3. Assuming that the firm has transferred funds from its regular bank account to its special payroll bank account and that this entry has been made, prepare a general journal entry to record the payment of wages. s nn r nave its employees time-and-a-half for hour