Vacation Destinations 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

6.20 %

Medicare tax rate

1.45 %

Federal and state unemployment tax rate

6.20 %

Required:

1.

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

FEB.14 Record the employee salary expense, withholdings, and salaries payable.

2.Record the employer-provided fringe benefits.

FEB.14 Record the employer-provided fringe benefits.

3.Record the employer payroll taxes FEB.14