Tree Top Company's Ashlyn Washington is continuing her analysis of the company's position and believe the company will need to borrow $33000 in order to expand operations. They consult Rapid River Bank and secure a 10%, one-year note on September 1, 2025, with interest due at maturity. Additionally, the company hires an employee, Jeff Victor , on September 1. Jeff will receive a salary of $4500 per month. Payroll deductions include federal income tax at 40%, OASDI at 6.2%, Medicare at 1.45%, and monthly health insurance premium of $200. The company will incur matching FICA taxes, FUTA tax at 0.6%, and SUTA tax at 5.4%. Round calculations to two decimals. Omit explanations on journal entries.

Start by preparing the compound journal entry to record salaries expense and payroll withholdings on September 30, 2025. Do not record the employer payroll tax with this entry. We will do that in the following step.