Prepare the journal entry to record Brookhaven’s payroll tax expense. The entry will include the following:

1. Payroll accounting. Assume that the following tax rates and payroll information pertain to Brookhaven Publishing: Social Security taxes: 4% on the first $55,000 earned per employee Medicare taxes: 1.5% on the first $130,000 earned per employee Federal income taxes withheld from wages: $7,500 State income taxes: 4% of gross earnings Insurance withholdings: 1% of gross earnings State unemployment taxes: 5.4% on the first $7,000 earned per employee Federal unemployment taxes: 0.8% on the ...