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Otis Imports has two employees working in the month of March. E. Williams has a...

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Accounting

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Otis Imports has two employees working in the month of March. E. Williams has a monthly salary of $2,500 and A. Daniels has a month salary of $2,000. The following tax rates apply to both employees: Federal income tax rate N.C. income tax rate Social security rate Medicate rate Federal unemployment rate NC unemployment rate 10% 6% 6.2% 1.45% 8% 20% Instructions: 1 Prepare the monthly entry for the two employees combined to record their pay 2 Prepare the employers payroll tax entry for both employees combined

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