For the year ended December 31, 2022. Crane Electrical Repair Company reports the following summary payroll data.

Gross earnings:
Administrative salaries $160,000
Electricians' wages 340,000
Total $500,000
Deductions:
FICA taxes $33,290
Federal income taxes withheld 160,000
State income taxes withheld (3%) 15,000
United Fund contributions payable 25,000
Health insurance premiums 15,000
Total $248,290
Crane's payroll taxes are Social Security tax 6.2%, Medicare tax 1.45%, state unemployment 2.5% (due to a stable employment record), and 0.8% federal unemployment. Gross earnings subject to Social Security taxes of 6.2% total $420,000, and gross earnings subject to unemployment taxes total $110,000. No employee exceeds the $127,200 limit related to FICA taxes.

(a) Prepare a summary journal entry at December 31 for the full year's payroll.