According to a summary of the payroll of Bailing Co., 880,000 was subject to the 6.0% social security tax and the 1.5%Medicare tax. Also , $40,000 was subject to state and federal unemployment taxes.
a. Calculate the employer payroll taxes, using the following rates: state unemployment, 0.8% $_____________.
b. Journalize the entry to record the accrual of payroll taxes.