Wallace Corporation summarizes the following information from its weekly payroll records during April.

Type of Salary	Gross Pay	F.I.C.A. Tax	Federal Income Tax	State Income Tax	Net Pay
Office Staff	$71,000	$5,680	$5,183	$2,000	$58,137

Required:

Prepare the two journal entries to record the payment of the payroll and the accrual of its payroll taxes for April. Assume an 8% F.I.C.A. rate for both employees and the employer. Also assume a 5.4% state unemployment tax rate, a 0.6% federal unemployment tax rate, and that all wages are subject to all payroll taxes.

Prepare the two journal entries on April 30 to record the payment of the payroll and the accrual of its payroll taxes for April. Assume an 8% F.I.C.A. rate for both employees and the employer. Also assume a 5.4% state unemployment tax rate, a 0.6% federal unemployment tax rate, and that all wages are subject to all payroll taxes.

CHART OF ACCOUNTS Wallace Corporation General Ledger ASSETS REVENUE 111 Cash 411 Sales Revenue 121 Accounts Receivable 141 Inventory EXPENSES 152 Prepaid Inturances 500 Cost of Goods Sold 511 Insurance Expense 181 Equipment 512 Uities Expense 189 Accumulated Depreciation 521 Salaries Expense 522 Payroll Taxes Expense LIABILITIES 532 Bad Debt Expense 211 Accounts Payable 540 interest Expense 224 FICA Taxes Payable 541 Depreciation Expense 225 Federal Income Taxes Withholding Payable 559 Miscelaneous Expenses 226 State Income Taxes Withholding Payable 910 Income Tax Expense 227 Federal Unemployment Taxes Payable 228 State Unemployment Taxes Payable 231 Salaries Payable 250 Unearned Revenue Prepare the hwo journal entries on April 30 to record the payment of the payroll and the accal of s payrod taes for April Assume an 0% FICA rae for both emplbyees and the employer Abo assume a 54% state- unemployment fax rate, a 0 6% federal unemployment tax rate, and that all wages are subject to all payrol taxes General Journal Ihstructions GENERAL JOURNAL CREDT DEIT ACCOUNT TETLE POST RE DATE CHART OF ACCOUNTS Wallace Corporation General Ledger ASSETS REVENUE 111 Cash 411 Sales Revenue 121 Accounts Receivable 141 Inventory EXPENSES 152 Prepaid Inturances 500 Cost of Goods Sold 511 Insurance Expense 181 Equipment 512 Uities Expense 189 Accumulated Depreciation 521 Salaries Expense 522 Payroll Taxes Expense LIABILITIES 532 Bad Debt Expense 211 Accounts Payable 540 interest Expense 224 FICA Taxes Payable 541 Depreciation Expense 225 Federal Income Taxes Withholding Payable 559 Miscelaneous Expenses 226 State Income Taxes Withholding Payable 910 Income Tax Expense 227 Federal Unemployment Taxes Payable 228 State Unemployment Taxes Payable 231 Salaries Payable 250 Unearned Revenue Prepare the hwo journal entries on April 30 to record the payment of the payroll and the accal of s payrod taes for April Assume an 0% FICA rae for both emplbyees and the employer Abo assume a 54% state- unemployment fax rate, a 0 6% federal unemployment tax rate, and that all wages are subject to all payrol taxes General Journal Ihstructions GENERAL JOURNAL CREDT DEIT ACCOUNT TETLE POST RE DATE