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Question
The summary of the payroll for the monthly pay period ending July 15 indicated the following:
| Sales salaries | $125,000 |
| Federal income tax withheld | 32,300 |
| Office salaries | 35,000 |
| Medical insurance withheld | 7,370 |
| Social security tax withheld | 10,200 |
| Medicare tax withheld | 2,550 |
Journalize the entries for (a) the payroll and (b) the employer's payroll tax expense for the month. The state unemployment tax rate is 3.1%, and the federal unemployment tax rate is 0.8%. Only $25,000 of salaries is subject to unemployment taxes.
Answer
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