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Anyone? Alamar petroleum Company offers its employees the option of contributing retirement...

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Accounting

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Alamar petroleum Company offers its employees the option of contributing retirement funds up to 5% of their wages or salaries, with the contribution being matched by Alamar. The company also pays 75% of medical and life insurance premiums. Deductions relating to these plans and other payroll information for the first biweekly payroll period of February are listed as follows: Required; prepare the appropriate journal entries to record salaries and wages expense and payroll tax expense for the biweekly pay period. Assume that no employee's cumulative wages exceed the relevant wage bases for social security, and that all employee's cumulative wages do exceed the relevant unemployment wage bases. Salaries are next yet paid

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