The payroll register of Ruggerio Co. indicates $12,000 of social security withheld and $3,000 of Medicare tax withheld on total salaries of $200,000 for the period. Earnings of $38,000 are subject to state and federal unemployment compensation taxes at the federal rate of 0.60% and the state rate of 5.40%. On December 31, provide the journal entry to record the payroll tax expense for the period. Refer to the Chart of Accounts for exact wording of account titles.

ASSETS REVENUE 110 Cash 111 Accounts Receivable 112 Interest Receivable 113 Notes Receivable 115 Merchandise Inventory 116 Supplies 118 Prepaid Insurance 120 Land 123 Building 124 Accumulated Depreciation-Building 125 Office Equipment 126 Accumulated Depreciation-Office Equipment 410 Sales 610 Interest Revenue EXPENSES 510 Cost of Merchandise Sold 520 Salaries Expense 524 Depreciation Expense-Building 525 Delivery Expense 526 Repairs Expense 529 Selling Expenses 531 Rent Expense 532 Depreciation Expense-Office Equipment 533 Insurance Expense 534 Supplies Expense 535 Payroll Tax Expense LIABILITIES 210 Accounts Payable