ALT-TWO-PAYROLL-ENTRIES Using the data below, make the entry for the Employees' payroll AND the employer's Payroll Taxes. Carnaby Company has five employees. The total salaries of the employees is 55,400. The company prepares the payroll entry, using a social security rate of 6% and a Medicare rate of 1.5%. The Federal income tax withholding is 5540. Prepare the entry for the employees' payroll. Salaries Expense Social Scurity Tax Payable Medical Tax Payable Employ Federal Income Tax Payable Wages ihyable Carnaby also makes the entry to accrue the payroll taxes. The company matches the social security and Medicare amounts, and computes State Unemployment at the rate of 5.4% of salaries earned. The Federal Unemployment rate is.8%. Prepare the entry for the employer's payroll taxes. Payroll Ta Expense Social Security Tax Payable Medical Tax Payable Statemployment Tax Payable Federalnemployment Tax Payable