Problem $8-3$A $($Algo$)$ Record payroll $($LO$8-3)$

Bahama Tours' total payroll for the month of January was $$520,000.$ The following withholdings, fringe benefits, and payroll taxes

apply:

Federal and state income tax withheld

Health insurance premiums paid by employer $($payable to Blue Cross$)$

Contribution to retirement plan paid by employer $($payable to Fidelity$)$

FICA tax rate $($Social Security and Medicare$)$

Federal and state unemployment tax rate

$$52,000$

$9,360$

$20,800$

$7\mathrm{.}65$

$6\mathrm{.}208$

Assume that none of the withholdings or payroll taxes has been paid by the end of January $($record them as payables$),$ and no

employee's cumulative wages exceed the relevant wage bases.

Required:

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

Record the employer$-$provided fringe benefits.

Record the employer payroll taxes.

Record the necessary entry for the scenarios given above. $($If no entry is required for a transaction$/$event$,$ select $"$No Journal

Entry Required" in the first account field.$)$

$1$ Record the employee salary expense, withholdings, and

salaries payable.

$2$ Record the employer$-$provided fringe benefits.