PROBLEM 02 - JOURNAL ENTRIES FOR PAYROLL During the current period, office employees earned wages of $200,000. Of this amount, $38,000 must be withheld from payments for income taxes, CPP and El. The employer must pay an additional $16,000 in for the Employer contributions of CPP and El. The employer has promised to contribute 4 percent of gross wages to a profit-sharing fund, the proceeds from which are used to pay workers when they retire. Prepare journal entries for these wage-related items