The payroll records of a company provided the following data for the current weekly pay period ended April 5. Assume that the Social Security portion of the FICA taxes is 6.2% the first $ 117,000 and the Medicare portion 1.45 % of all wages paid to each employee for this pay period. The federal and state unemployment tax rates are 0 and 3.4%, respectively, on the first $7,000 paid to each employee. Calculate the (net) salaries payable for each employee. Prepare the Journal to record the Employer Payroll Tax Expense