I am so lost. Please help me understand the concept. Thank you!

\begin{tabular}{rl|l|l} A2 On January 15, the end of the first pay period of the year, North Company's empl \\ \hline A & B & Bfx O & D \end{tabular} On January 15, the end of the first pay period of the year, North Company's employees earned $35,000 of sales salaries. Withholdings from the employees' salaries include FICA Social Security taxes at the rate of 6.2%, FICA Medicare taxes at the rate of 1.45%,$6,500 of federal income taxes, $772.50 of medical insurance deductions, and $120 of union dues. No employee earned more than $7,000 in this first period. Salaries Required: Prepare the journal entry to record North Company's January 15 salaries expense and related liabilities. (Use cells A2 to K6, as well as the "Chart of Accounts" tab for cell referencing and/or formulas needed to comple Students: The scratchpad area is for you to do any additional work you need to solve this question or can be used Nothing in this area will be graded, but it will be submitted with your assignment