Transcribed Image Text: 4. EX.10.170 According to a summary of the payroll of Scotland Company, salaries for the period were $500,000. Federal income tax withheld was $98,000. Also, $15,000 was

Transcribed Image Text: 4. EX.10.170
According to a summary of the payroll of Scotland Company, salaries for the period were $500,000. Federal income tax withheld was $98,000. Also, $15,000 was subject to state (5.4%) and federal (0.8%) unemployment taxes. All earnings are subject to social security tax of 6.0% and Medicare tax of 1.5%.
Required:
a. Journalize the entry to record the accrual of payroll. All employee earnings are subject to Medicare tax. If an amount box does not require an entry, leave it blank.
b. Journalize the entry to record the accrual of payroll taxes. All employee earnings are subject to Medicare tax. If an amount box does not require an entry, leave it blank.

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