Exercise $8-8($Algo$)$ Record payroll $($LO$8-3)$

$10$

points

During January, Luxury Cruise Lines incurs employee salaries of $$1\mathrm{.}7$ million. Withholdings in January are $$130,050$ for the employee portion of FICA, and $$361,250$ for employee federal and state. The company incurs an additional $$105,400$ for federal and state unemployment tax and $$51,000$ for the employer portion of health insurance $($fringe benefits payable to Blue Cross Blue Shield$).$

Required:

to $3.$ Record the necessary entries in the Journal Entry Worksheet below. $($If no entry is required for a$.$ particular transaction$/$event$,$ select $"$No Journal Entry Required" in the first account field. Enter your answers in dollars, not in millions $($i$.$e$.5$ million should. be entered as $5,000,000).)$

Hint

$$

Journal entry worksheet

References

$1$

$2$

$3$

Record the employer payroll taxes.

Note: Enter debits before credits.

$\backslash$table$[[$Date$,$General Journal,Debit,Credit$],[$January $31,,,],[,,,],[,,,],[,,,]]$