$20$

TB Problem Qu$.11-185($Algo$)$ Recording employer payroll taxes

A company has $10$ employees, each of whom earns $$1,950$ per month and has been employed since January $1.$ All wages for this period are subject to $6\mathrm{.}2\%$ FICA Social Security taxes and $1\mathrm{.}45\%$ FICA Medicare taxes. FUTA taxes are $0\mathrm{.}6\%$ and SUTA taxes are $5\mathrm{.}4\%$

$5$ of the first $$7,000$ paid to each employee.

points

$00$:$19$:$18$

Prepare the February $28$ journal entry to record the February payroll taxes expense.

Note: Round your answers to $2$ decimal places.