Emily Turnbull, president of Aerobic Equipment Corporation, is concerned about her employees well-being. The company offers its employees free medical, dental, and life insurance coverage. It also matches employee contributions to a voluntary retirement plan up to 5% of their salaries. Assume that no employees cumulative wages exceed the relevant wage bases. Payroll information for the biweekly payroll period ending January 24 is listed below.

Wages and salaries	$ 2,000,000
Employee contribution to voluntary retirement plan	100,000
Medical insurance premiums paid by employer	40,000
Dental insurance premiums paid by employer	14,000
Life insurance premiums paid by employer	7,000
Federal and state income tax withheld	430,000
FICA tax rate	7.65 %
Federal and state unemployment tax rate	6.20 %

13.

value: 2.50 points

Required information

Required:

1.

Record the employee salary expense, withholdings, and salaries payable. (If no entry is required for a transaction/event, select "No journal entry required"Record the employee salary expense and withholdings.

2.

2.

Record the employer-provided fringe benefits. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)Record the employer-provided fringe benefits.

3.

Record the employer payroll taxes. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)