1. On May 1, Pierce Company purchased $60,000 of Stanton Company's 12% bonds at 100 plus accrued interest of $2,400. On June 30, Pierce received its first semiannual interest. On February 1, Pierce sold $50,000 of the bonds at 103 plus accrued interest. The journal entry Pierce will record on June 30 will include a a.credit to Interest Revenue for $2,400 b.credit to Cash for $2,400 c.credit to Interest Receivable for $1,200 d.debit to Cash for $3,600

2. On May 1, Pierce Company purchased $60,000 of Stanton Company's 12% bonds at 100 plus accrued interest of $2,400. On June 30, Pierce received its first semiannual interest. On February 1, Pierce sold $50,000 of the bonds at 103 plus accrued interest. The journal entry Pierce will record on February 1 will include a a.credit to Cash for $52,500 b.credit to Interest Receivable for $600 c.credit to Gain on Sale of Investments for $1,500 d.credit to Interest Revenue for $1,500

3.

The following information is for employee Ella Dodd for the week ended March 15.

Total hours worked: 48 Rate: $15 per hour, with double time for all hours in excess of 40 Federal income tax withheld: $200 United Fund deduction: $50 Cumulative earnings prior to current week: $6,400 Tax rates: Social security: 6% on maximum earnings of $120,000. Medicare tax: 1.5% on all earnings. State unemployment: 3.4% on maximum earnings of $7,000; on employer Federal unemployment: 0.8% on maximum earnings of $7,000; on employer.

a. Determine (1) total earnings, (2) total deductions, and (3) cash paid. If required, round interim calculations to two decimal places.

1. Total earnings $ 2. Total deductions $ 3. Cash paid $

b. Determine each of the employer's payroll taxes related to the earnings of Ella Dodd for the week ended March 15. If required, round your answers to two decimal places.

Social security and Medicare taxes $ State unemployment tax Federal unemployment tax Total $