Alamar Petroleum Company offers its employees the option of contributing retirement funds up to $5\%$ of their salaries, with the contribution being matched by Alamar. The company also pays $80\%$ of medical and life insurance premiums. Deductions relating to these plans and other payroll information for the first biweekly payroll period of February are listed as follows:

Wages and salaries $ $2,300,000$

Employee contribution to voluntary retirement plan $87,000$

Medical insurance premiums $45,000$

Life insurance premiums $9,300$

Federal income taxes to be withheld $430,000$

Local income taxes to be withheld $56,000$

Payroll taxes:

Federal unemployment tax rate $0\mathrm{.}60\%$

State unemployment tax rate $5\mathrm{.}40\%$

Social Security tax rate $6\mathrm{.}20\%$

Medicare tax rate $1\mathrm{.}45\%$

Required:

Prepare the appropriate journal entries to record salaries expense and payroll tax expense for the biweekly pay period. Assume that all employees$$ cumulative wages do not exceed the relevant wage bases for Social Security. Also assume that all employees$$ cumulative wages do exceed the relevant unemployment wage bases at the end of January. Salaries are not yet paid

Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.