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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}

question 73

Essay

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}

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Definitions:

ICD-10-PCS

The International Classification of Diseases, Tenth Revision, Procedure Coding System; a medical classification used for coding healthcare procedures.

Case-Sensitive

Pertaining to a system where letters of the alphabet are distinguished as upper case and lower case for data entry or programming.

ICD-9-PCS

International Classification of Diseases, 9th Revision, Procedure Coding System; used for coding medical procedures in health records, billing, and insurance processing.

ICD-10-PCS

International Classification of Diseases, Tenth Revision, Procedure Coding System; a medical classification system used to code procedures in the hospital setting.

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