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correct answer An employee receives an hourly rate of $15, with time and...

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Accounting

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An employee receives an hourly rate of $15, with time and a half for all hours worked in excess of 40 during the week. Payroll data for the cunent week are as foll income tax withheld. \$120: cumulative earnings for the year prior to this week, $5.500; social security tax rate, 6.2% : and Medicare tax rate. 1.45%. state unemploy the first $7.000 : federal unemployment compensation tax, 0.8% on the first $7.000. Prepare the journal entries to record the salaries expense and the employer payr

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