Obj. 2 rom PR 10-2A Entries for payroll and payroll taxes The following information about the payroll for the week ended December 30 was obtained fr the records of Boltz Co.: Deductions 5540,000Income tax withheld 55,000 U.S. savings bonds $160,000 10,500 9,000 Salaries: Sales salaries Warehouse salaries Office salaries Group insurance 85,000 $780,000 Tax rates assumed: Social security, 696 Medicare, 1.5% State unemployment (employer only), 5.496 Federal unemployment (employer only), 0.8% Instructions 1. Assuming that the payroll for the last week of the year is to be paid on December 31, journalize the following entries: a. December 30, to record the payroll. b. December 30, to record the employer's payroll taxes on the payroll to be paid on December 31. Of the total payroll for the last week of the year, $48,000 is subject to unemployment compensation taxes. 2. Assuming that the payroll for the last week of the year is to be paid on January 5 of the follow- ing fiscal year, journalize the following entries: a. December 30, to record the payroll. b. January 5, to record the employers payroll taxes on the payroll to be paid on January 5 Since it is a new fiscal year, all $780,000 in salaries is subject to unemployment comper tion taxes