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	$	1,600,000
Employee contribution to voluntary retirement plan		80,000
Medical insurance premiums paid by employer		32,000
Dental insurance premiums paid by employer		11,200
Life insurance premiums paid by employer		5,600
Federal and state income tax withheld		344,000
FICA tax rate		7.65	%
Federal and state unemployment tax rate		6.20	%

Required:

1., 2. & 3. Record the necessary journal entries. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)