Main Street Bakery offers its employees the option of contributing up to $5\%$ of their salaries to a voluntary retirement plan, with the employer matching their contribution. The company also pays $100\%$ of medical and life insurance premiums. Assume that no employee's cumulative wages exceed the relevant wage bases. Payroll information for the first biweekly payroll period ending February $14$ is listed below.

Wages and salaries $$950,000$

Employee contribution to voluntary retirement plan $39,900$

Medical insurance premiums paid by employer $19,950$

Life insurance premiums paid by employer $3,800$

Federal and state income tax withheld $237,500$

Social Security tax rate $6\mathrm{.}20\%$

Medicare tax rate $1\mathrm{.}45\%$

Federal and state unemployment tax rate $6\mathrm{.}20\%$

Required:

$1.$ Record the employee salary expense, withholdings, and salaries payable.

$2.$ Record the employer$-$provided fringe benefits.

$3.$ Record the employer payroll taxes.