Will Smith earns a salary of $ per month during Employment Insurance taxes El are of the first $ in earnings. The Canada Pension Plan CPP rate is of the first $ in earnings, less a basic annual exemption of $ During the year, $ was withheld for income taxes.Instructionsa. Prepare a journal entry summarizing the payment of Smith\'s total salary during the year.b Prepare a journal entry summarizing the employer\'s payroll tax expense on Smith\'s salary for the year.c Determine the cost of employing Smith for the year.