2. Emily Turnbull, president of Aerobic Equipment Corporation, is concerned about her employees well-being. The company offers its employees free medical, dental, and life insurance coverage. It also matches employee contributions to a voluntary retirement plan up to 5% of their salaries. Assume that no employees cumulative wages exceed the relevant wage bases. Payroll information for the biweekly payroll period ending January 24 is listed below.

Record the following journal entries:

Employee Salary Expense, withholdings, and salaries payable. / employer-provided fringe benefits / employer payroll taxes

Wages and salaries	$	2,150,000
Employee contribution to voluntary retirement plan		107,500
Medical insurance premiums paid by employer		43,000
Dental insurance premiums paid by employer		15,050
Life insurance premiums paid by employer		7,525
Federal and state income tax withheld		462,250
FICA tax rate		7.65	%
Federal and state unemployment tax rate		6.20	%