Total payroll was $434,000, of which $108,000 is exempt from Social Security tax because it represented amounts paid in excess of $142,800 to certain employees. The amount paid to employees in excess of $7,000 (the maximum for both federal and state unemployment taxes) was $423,000. Income taxes in the amount of $86,300 were witheld, as was $8,100 in union dues. The state unemployment tax is 3.5%, but Sheridan Company is allowed a credit of 2.3% by the state for its unemployment experience. Also, assume that the current FICA tax is 7.65% on an employee's wages to $142,800 and 1.45% in excess of $142,800. The federal unemployment tax rate is 0.8% after state credit. Prepare the necessary journal entries if the wages and salaries paid and the employer payroll taxes are recorded separately. (If no ent is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount entered. Do not indent manually. List all debit entries before credit entries.) Account Titles and Explanation Debit Credit (To record salaries and wages paid and the employee payroll deductions) (To record employer payroll taxes)