Journal entry worksheet Record the employer payroll taxes. Note: Enter debits before credits. General Journal Debit Credit Date January 24 Record entry Clear entry View general journal Problem 8-4B Record payroll (LO8-3) 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 6% of their salaries. Assume that no employee's cumulative wages exceed the relevant wage bases. Payroll information for the biweekly payroll period ending January 24 is listed below. Wages and salaries Employee contribution to voluntary retirement plan Medical insurance premiums paid by employer Dental insurance premiums paid by employer Life insurance premiums paid by employer Federal and state income tax withheld FICA tax rate Federal and state unemployment tax rate $ 1,850,000 92,500 37,000 12,950 6,475 397,750 7.65% 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.) Journal entry worksheet Record the employee salary expense, withholdings, and salaries payable. Note: Enter debits before credits. Date General Journal Credit Debit 1,850,000 January 24 F : Salaries Expense Income Tax Payable FICA Tax Payable Accounts Payable (Retirement Plan) Salaries Payable Record entry Clear entry View general journal Journal entry worksheet