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The summary of the payroll for the monthly pay period ending July 15 indicated the following: Sales salaries Office salaries Federal income tax withheld Medical
The summary of the payroll for the monthly pay period ending July 15 indicated the following: Sales salaries Office salaries Federal income tax withheld Medical insurance withheld Social security tax withheld Medicare tax withheld a. Journalize the entry for the payroll. If an amount box does not require an entry, leave it blank. July 15 $125,000 35,000 32,300 7,370 10,200 2,550 b. Journalize the entry for the employer's payroll tax expense for the month. The state unemployment tax rate is 5.4%, and the federal unemployment tax rate is 0.8%. Only $25,000 of salaries is subject to unemployment taxes. If an amount box does not require an entry, leave it blank. July 15
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