An abbreviated payroll register for the Achermann Corporation for the week ending August 18, 2010, follows:

Prepare the journal entry to record the following:

1. Payment of the weekly payroll.

2. The payroll taxes for this time period (SUTA is 5.4 percent and FUTA is 0.6 percent of gross earnings).

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Federal Income Tax Employee Dean Schmidt Lacey Gross Earnings $740.00 705.00 580.00 $148.00 141.00 04.00 FICA $56.61 53.93 44.37 Retirement Contribution $74.00 70.00 50.00