The following accounts with the balances

The following accounts, with the balances indicated, appear in the ledger of Codigo Co. on
December 1 of the current year:The following transactions relating to payroll, payroll deductions,
and payroll taxes occurred during December:Dec. 1. Issued Check No. 615 to Canal Insurance
Company for $2,800, in payment of the semiannual premium on the group medical insurance
policy.1. Issued Check No. 616 to Green Bank for $19,483, in payment for $6,847 of social
security tax, $1,763 of Medicare tax, and $10,873 of employees’ federal income tax due.2.
Issued Check No. 617 for $2,520 to Green Bank to purchase U.S. savings bonds for
employees.12. Journalized the entry to record the biweekly payroll. A summary of the payroll
record follows:12. Issued Check No. 622 in payment of the net amount of the biweekly
payroll.12. Journalized the entry to record payroll taxes on employees’ earnings of December
12: social security tax, $3,516; Medicare tax, $879; state unemployment tax, $350; federal
unemployment tax, $100.15. Issued Check No. 630 to Green Bank for $18,635, in payment for
$7,032 of social security tax, $1,758 of Medicare tax, and $10,431 of employees’ federal
income tax due.Dec. 26. Journalized the entry to record the biweekly payroll. A summary of the
payroll record follows:26. Issued Check No. 640 for the net amount of the biweekly payroll.26.
Journalized the entry to record payroll taxes on employees’ earnings of December 26: social
security tax, $3,543; Medicare tax, $886; state unemployment tax, $170; federal unemployment
tax, $45.30. Issued Check No. 651 for $15,168 to State Department of Revenue, in payment of
employees’ state income tax due on December 31.30. Issued Check No. 652 to Green Bank for
$2,520 to purchase U.S. savings bonds for employees.31. Paid $61,600 to the employee
pension plan. The annual pension cost is $72,800. (Record both the payment and the unfunded
pension liability.)Instructions1. Journalize the transactions.2. Journalize the following adjusting
entries on December 31:a. Salaries accrued: sales salaries, $10,620; officers’ salaries, $5,175;
office salaries, $1,920. The payroll taxes are immaterial and are not accrued.b. Vacation
pay,$14,840.
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The following accounts with the balances
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