Exercise 8-8 (Algo) Record payroll (LO8-3) During January, Luxury Cruise Lines incurs employee salaries of $1.8 million. Withholdings in January are $137,700 for the employee portion of FICA, and $382,500 for employee federal and state. The company incurs an additional $111,600 for federal and state unemployment tax and $54,000 for the employer portion of health insurance (fringe benefits payable to Blue Cross Blue Shield). Required: 1. to 3. Record the necessary entries in the Journal Entry Worksheet below. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Enter your answers in dollars, not in millions (i.e. 5 million should be entered as 5,000,000).) View transaction list Journal entry worksheet < Record the employee salary expense, withholdings, and salaries payable. Journal entry worksheet < 2 3 Record the employee salary expense, withholdings, and salaries payable.. Note: Enter debits before credits. Date January 31 General Journal Debit Credit Salaries Expense 1,800,000 Employee Income Tax Payable 382,500 FICA Tax Payable 137,700 Salaries Payable Allowance for Uncollectible Accounts 18,000 1,261,800 Journal entry worksheet < 1 2 3 Record the employer-provided fringe benefits. Note: Enter debits before credits. Date General Journal Debit Credit January 31 Salaries Expense 54,000 Fringe Benefits Payable 54,000 Journal entry worksheet < 2 3 Record the employer payroll taxes. Note: Enter debits before credits. Date January 31 General Journal Debit Credit Payroll Tax Expense 249,300 FICA Tax Payable 137,700 Unemployment Tax Payable 111,600