Answer:
Debit to Employee Benefits Expense $21,560.
Explanation:
The journal entry is shown below:
Employee Benefits Expense $21,560
To Employee Retirement Program Payable $6,160
To Employee Health Insurance Payable $15,400
(Being accrued benefit is recorded)
The computation is shown below:
For Employee Retirement Program Payable
= Gross salary × contributed percentage
= $154,000 × 4%
= $6,160
And, for Employee Benefits Expense , it would be
= $15,400 + $6,160
= $21,560
