Prepare the journal entry or entries

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Question - Reporting Payroll Tax Liabilities - Lightning Electronics is a midsize manufacturer of lithium batteries. The company's payroll records for the November 1-14 pay period show that employees earned wages totaling $53,000 but that employee income taxes totaling $7,600 and FICA taxes totaling $2,775 were withheld from this amount. The net pay was directly deposited into the employees' bank accounts. Assume Lightning Electronics also must pay $280 of unemployment taxes for this pay period. Prepare the journal entry or entries that Lightning would use to record the payroll. Include both employee and employer taxes.

Reference no: EM133176781

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