SPECIAL PAYROLL PROBLEM REQUIRING CALCULATIONS AND JOURNAL ENTRIES (12 points) Gross wages at the Timberwolf Company are $100,000. The Social Security tax rate is 6.0 %. The Medicare tax rate is 1.5% Amount withheld from employee paychecks for the United Way, a charitable organization, is $2,000. Amount withheld from employee paychecks for retirement savings is $4,000 Required: Make the journal entry (debit and credit) for recording the payroll. That's all.