1. On January 2nd Mege Sales borrews $12,500.00 cash on a note payable from Alley Lenders with terms 90 days, 12\%. Mega Sales and Alley Lenders uses a 360 dary year for interest calculations Mepa Sales makes alfusting entries at the end of each calendar quarter loumalize 1) the initiation of the toan, 2) the roce gaitaon of interest expense for the quarter and 3) the payment of the note on its due dete (8 pointo) 2. Carina Ramirez's weekly gross earmings for the weck ending Dec. 7th were $2.500, and her federal income tax withholding was $525. Proor to this weck Ramirez had eamed $98,000 for Medicare is 1 . 5% of all camings, what is Ramircz's net pay? (3) points)