Problem 8-4A (Algo) Record payroll (LO8-3) Main Street Bokery offers its employees the option of contributing up to 5% of their salaries to a voluntary reticement plan. with the employer matching their contribution. The company also pays 1008c of medical and ife insurance premeims. Assurse that no. employee's cumulative wages exceed the reievant wage baves. Payrol information for the first biveekty payroll period cending February 14 is listed below Required: 1. Record the ensioyee salary empense. witholdange. and salaries payable: 2. Record the employer-provided trigge benefits 3. Recoed the enployer noyioli taxes Record the necesiary entry for the scenacios given above (if no entry is required for a tonsnction/ovent, seloct "No Joumbl Entry Required in the first eccount field.) 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. Required: 1. Record the employee salary expense, withholdings, and salaries payable 2. Record the employer-provided fringe benefits 3. Record the employer payroli taxes. Record the necessary entry for the scenarios given above. (If no entry is required for o transoction/event, select "No Journol Entry Required" in the first occount field.)