M$10-4($Static$)$ Reporting Payroll Tax Liabilities $[$LO $10-2]$

Lightning Electronics is a midsize manufacturer of lithium batteries. The company's payroll records for the November $1-14$ pay period

show that employees earned wages totaling $$50,000$ but that employee income taxes totaling $$7,000$ and FICA taxes totaling $$2,625$

were withheld from this amount. The net pay was directly deposited into the employees' bank accounts. Assume Lightning Electronics

also must pay $$250$ of unemployment taxes for this pay period.

Prepare the journal entry or entries that Lightning would use to record the payroll. Include both employee and employer taxes. $($If no

entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.$)$

Journal entry worksheet

Record the wages expense for November $1-14$ time period, including payroll

deductions.

Note: Enter debits before credits.