Art Parrish Is the Sole Employee of Parrish Sales

Art Parrish is the sole employee of Parrish Sales. His company pays a portion of his health insurance premium, and also contributes to superannuation. The company share of the health insurance premium is $400, and the company contribution to the retirement plan is $550. The second journal entry in the payroll cycle to record the employee benefits to be paid by the company should include a credit to Cash for $950.