Problem A1-4B Journal entries for payroll transactions Lo2, 3, 4 s paid on the last day of each month. On March 1, the following accounts and balances appeared in its ledger. A company has three employees, each of whom has been employed since January 1, earns $3,000 per month, and 2. Employees' Income Taxes Payable, $1,298.25 (liability for February). b. EI Payable, $358.56 (liability for February). c. CPP Payable, $804.36 (liability for February). d. Employees' Medical Insurance Payable, $1,380.00 (liability for January and February). During March and April, the company completed the following related to payroll: Mar 17 31 Issued cheque #635 payable to the Receiver General for Canada. The cheque was In payment of the February employee income taxes. El, and CPP amounts due. Prepared a general journal entry to record the March payroll register, which had the following column totals: Income Taxes Medical Insurance Total Deductions Net Pay Office Salaries Shop Salaries CPP $149.40 $1.298.25 $402.18 $345.00 $2,214.63 $6,785.37 $3,000 $6,000 31 31 Recorded the employer's $345.00 liability for its 50% contribution to the medical Insurance plan of employees and 6% vacation pay accrued to the employees. Prepared a general Journal entry to record the employer's payroll costs resulting from the March payroll Issued cheque #764 payable to the Receiver General for Canada in payment of the March mandatory deductions, Issued cheque #765 payable to National Insurance Company in payment of the employee medical insurance premiums for the first quarter. Apr. 14 14 uired Prepare the entries to record the transactions. Problem Al-4B (concl.) Appendix Name: GENERAL JOURNAL Account Titles and Explanation Date PR Debit Credit