During January, Luxury Cruise Lines incurs employee salaries of $1 million. Withholdings in January are $76,500 for the employee portion of FICA, $150,000 for federal income tax, $60,000 for state income tax, and $10,000 for the employee portion of health insurance (payable to Blue Cross/Blue Shield). The company incurs an additional $62,000 for federal and state unemployment tax and $30,000 for the employer portion of health insurance. 
During January, Luxury Cruise Lines incurs employee salaries of $1 million. Withholdings in January are $76,500 for the employee portion of FICA, $150,000 for federal income tax, $60,000 for state income tax, and $10,000 for the employee portion of health insurance (payable to Blue Cross/Blue Shield). The company incurs an additional $62,000 for federal and state unemployment tax and $30,000 for the employer portion of health insurance. Required: 1., 2.& 3. Record the necessary entries in the Journal Entry Worksheet below. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the employee salary expense, withholdings, and salaries payable. Note: Enter debits before credits. General Journal Debit Credit Date January 31 Record entry Clear entry View general journal During January, Luxury Cruise Lines incurs employee salaries of $1 million. Withholdings in January are $76,500 for the employee portion of FICA, $150,000 for federal income tax, $60,000 for state income tax, and $10,000 for the employee portion of health insurance (payable to Blue Cross/Blue Shield). The company incurs an additional $62,000 for federal and state unemployment tax and $30,000 for the employer portion of health insurance. Required: 1., 2.& 3. Record the necessary entries in the Journal Entry Worksheet below. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the employer-provided fringe benefits. Note: Enter debits before credits. General Journal Debit Credit Date January 31 Record entry Clear entry View general journal During January, Luxury Cruise Lines incurs employee salaries of $1 million. Withholdings in January are $76,500 for the employee portion of FICA, $150,000 for federal income tax, $60,000 for state income tax, and $10,000 for the employee portion of health insurance (payable to Blue Cross/Blue Shield). The company incurs an additional $62,000 for federal and state unemployment tax and $30,000 for the employer portion of health insurance. Required: 1., 2.& 3. Record the necessary entries in the Journal Entry Worksheet below. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet
