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Emily Turnbull, president of Gold Coast Equipment Corporation, is concerned about her employees' well-being. The company offers its employees free medical, dental, and life insurance
Emily Turnbull, president of Gold Coast 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 7% of their salaries. Assume that no employee's cumulative wages exceed the relevant wage bases. Payroll information for the blweekly payroll period ending January 24 is listed below. Required: 1. Record the employee salary expense, withholdings, and salaries payable. 2. Record the employer-provided fringe benefits. 3. Record the employer payroll taxes. Record the necessary entry for the scenarios given above. (If no entry is required for a transaction/event, select "No Journal Entry Required "in the first account field.) Journal entry worksheet Record the employee salary expense, withholdings, and salarles payable. Journal entry worksheet Record the employee salary expense, withholdings, and salaries payable. Note: Enter debits before credits. Journal entry worksheet Record the employer-provided fringe benefits. Note: Enter debits before credits. Journal entry worksheet Record the employer payroll taxes. Note: Enter debits before credits
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