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During January, Luxury Cruise Lines incurs employee salaries of $14 million. Withholdings in January are $107100 for the employee portion of FICA $210,000 for federal

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During January, Luxury Cruise Lines incurs employee salaries of $14 million. Withholdings in January are $107100 for the employee portion of FICA $210,000 for federal income tax, $87,500 for state income tax, and $14,000 for the employee portion of health insurance payable to Blue Cross/Blue Shield). The company incurs an additional $86,800 for federal and state unemployment tax and $42.000 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. Enter your answers in dollars, not in millions (ie. 5 should be entered os 5,000,000).) View transaction list Journal entry worksheet

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