E$9-2($Algo$)$ Recording Payroll Costs LO $9-1$

Palouse Company completed the salary and wage payroll for the month of March. The payroll provided the following details:

Salarles and wages earned by employees

Employee income taxes withheld

Employee government insurance premiuns withheld

FICA payroll taxes$*$

Assessed on both employer and employee $($Le$,$ $$16,100$ each$).$

$$240,090$

$42,690$

$4,020$

$16,100$

Required:

Prepare the Journal entry to record the payroll for March, Including employee deductions. Assume employees have been paid, but that Palouse has yet to transfer any withholdings to the government.

$2$ Prepare the journal entry to record the employer's payroll taxes, which have not yet been paid to the government.

Provide a combined journal entry to show the payment of all amounts owed to governmental agencies.

Note: For all requirements, if no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.

Journal entry worksheet

$1$

$2$

$3$

Record the entry to show the payment of amounts owed to governmental agencies.

Nates Enter debix betare crests;

$\backslash$table$[[$Date$,$General Journal,Debit,Credit$],[$March $31,,,],[,,,],[,,,],[,,,],[,,,],[,,,],[,,,]]$