Journal entries for payroll. During the current period, suppose that McGee Associates' office employees earned wages of \(\$ 700,000\). McGee withheld 30 percent of this amount for payments for various income and payroll taxes. In addition, McGee must pay 10 percent of gross wages for the employer's share of various taxes. McGee has promised to contribute 4 percent of gross wages to a profit-sharing fund, which workers will share as they retire. Employees earned vacation pay estimated to be \(\$ 14,000\); estimated fringe benefits are 20 percent of that amount.

a. Prepare journal entries for these wage-related items.

b. What is total wage and salary expense?