Exercise 11-10 Recording payroll □ P2 ⟶3 The following monthly data are taken from Ramirez Company at July 31: sales salaries, $200,000; office salaries, $160,000; federal income taxes withheld, \$90,000; state income taxes withheld, $20,000; Social Security taxes withheld, \$22,320; Medicare taxes withheld, \$5,220; medical insurance premiums, $7,000; life insurance premiums, $4,000; union dues deducted, $1,000; and salaries subject to unemployment taxes, $50.000. The employee pays 40% of medical and life insurance premiums. Prepare journal entries to record (1) acerued payroll, including employee deductions, for July; (2) cash payment of the net payroll (salaries payable) for July; (3) accrued employer payroll taxes, and other related employment expenses, for July-assume that FICA taxes are identical to those on employees and that SUTA taxes are 5.4\% and FUTA taxes are 0.6%; and (4) cash payment of all liabilities related to the July payroll.