Art Parrish is the sole employee of Parrish Sales.His company pays a portion of his health insurance premium,and also contributes to a retirement plan in his name.The company share of the health insurance premium is $400,and the company contribution to the retirement plan is $550.Please provide the third journal entry in the payroll cycle to record the employee benefits paid by the company.
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Question

Art Parrish is the sole employee of Parrish Sales.His company pays a portion of his health insurance premium,and also contributes to a retirement plan in his name.The company share of the health insurance premium is $400,and the company contribution to the retirement plan is $550.Please provide the third journal entry in the payroll cycle to record the employee benefits paid by the company.
 $$\begin{array} { | l | r | r | } 
\hline \quad\quad\quad&\quad&\quad \
\hline \\hline \
\hline
\end{array}$$

Quizplus · Accepted Answer

The Answer of Art Parrish is the sole employee of Parrish Sales.His company pays a portion of his health insurance premium,and also contributes to a retirement plan in his name.The company share of the health insurance premium is $400,and the company contribution to the retirement plan is $550.Please provide the third journal entry in the payroll cycle to record the employee benefits paid by the company.
 $$\begin{array} { | l | r | r | } 
\hline \quad\quad\quad&\quad&\quad \
\hline \\hline \
\hline
\end{array}$$

Art Parrish Is the Sole Employee of Parrish Sales \begin{array} { | l | r | r | } \hline \quad\quad\quad&\quad&\quad \\\hline \\\hline \\\hline\end{array}​​

Art Parrish Is the Sole Employee of Parrish Sales $\begin{array} { | l | r | r | } \hline \quad\quad\quad&\quad&\quad \\\hline \\\hline \\\hline\end{array}$