12:30 Received the bank statement today. JHA's accountant noted that there were several items to evaluate for the bank reconciliation o a debit memo for $8.00 for hank service charges a debit meme for 5375 Soran NSF check from Reed Co 3 outstanding checks totaling $950 a $1000 deposit not yet reconded by the bank but deposited by JHA on 12/28 JHA recorded any necessary jounal entry or entries after preparing the reconciliation 12/30 On November 30 (last month), JHA had borrowed $16,398 from the bank, signing and installment loan requiring that $1000 be paid on the 30 of every month for 18 months beginning 12/30. Each payment includes both interest and principal. The interest rate is 1% per month. Record the first monthly payment 12/31 Recorded and paid the payroll for December. Payroll information for the company's only employee is presented below Employee Name Sam Smith Cumulative Gross Pay as of December's Gross Pay 11/30 $103,000 $10,000 Social Security tax rate is 6% of the first $110,000 of camings for each employee. Medicare tax rate is 1.5% of all earnings Federal taxes withheld for Sam Smith are 15% of gross earnings