Data for Payroll Problem 13-13

1. Gross payroll is $2,000,000

2. Federal withholding is $400,000

3. State withholding is $53,000

4. Social Security Taxes are withheld at 6.2%

5. Medical taxes are withheld at 1.45%

6. The companys medical insurance premium is $42,000. The employee pays 20%.

7. The companys life insurance premium is $9,000. The employee pay 20%.

8. The company has a 401K plan. This periods employee contribution is $84,000.

9. The company matches the 401K contribution dollar for dollar.

10. The federal unemployment rate is .6%

11. The state unemployment rate is 5.4%

Answer following question with info above

Required:

1. Prepare the journal entry to record payroll.

2. Prepare the journal entry to record the employers payroll taxes

. 3. Prepare the journal entry to record fringe benefits.