18. Carmen Flores' weekly gross earnings for the week ending Dec. 7th were $2,500, and her federal income tax withholding was $525. Assuming the social security rate is 6.2% and Medicare is 1.5% of all earnings. (12 points)

Question 1: What is Flores' net pay? Round your answer to two decimal places. (7 points, calculation procedure counts 5 points, filling the blank counts 2 points)

Net Pay =

Question 2: Please record the companys journal entry to record Carmen Flores weekly payroll on Dec 7^th. (Note: this payroll was not paid to employee yet) (5 points)

Date	Account Name	Debit	Credit
12/7