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C & D Company has numerous employees who are paid on a semi-monthly basis. Payroll information for August of the current year is given below.

C & D Company has numerous employees who are paid on a semi-monthly basis. Payroll information for August of the current year is given below.

Employee compensation $175,000

Employee CPP contributions 5,320

Employee EI contributions 3,336

Employee income tax withheld 40,250

Prepare (1) the journal entry to record the August payroll (6 marks) and (2) the payroll benefits expense journal for C & D Company for August. (4 Marks)

Explanations are not required.

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