2 parts

Lakeview Company completed the following two transactions. The annual accounting period ends December 31. a. On December 31, calculated the payroll, which indicates gross earnings for wages (\$120,000), payroll deductions for income tax ($12,000), payroll deductions for FICA ($9,000), payroll deductions for American Cancer Society ($4,500), employer contributions for FICA (matching), and state and federal unemployment taxes (\$1,050). Employees were paid in cash, but payments for the corresponding payroll deductions have not yet been made and employer taxes have not yet been recorded. b. Collected rent revenue of $6,750 on December 10 for office space that Lakeview rented to another business. The rent collected was for 30 days from December 11 to January 10 and was credited in full to Deferred Revenue. Required: 1. \& 2. Prepare the journal entries to record payroll on December 31, the collection of rent on December 10 and adjusting journal entry on December 31. 3. Show how any of the liabilities related to these items should be reported on the company's balance sheet at December 31. Record the wages expense, including payroll deductions. Note: Enter debits before credits. Record the payroll tax expense. Note: Enter debits before credits. Record the collection of 30 days' rent in advance amounting to $6,750. Note: Enter debits before credits. Record the adjusting entry relating to rent. Note: Enter debits before credits. Complete this question by entering your answers In the tabs below. Show how any of the liabilities related to these ltems should be reported on the company's balance sheet at December 31. (Do not round intermediate calculatlons.) The following amortization schedule indicates the interest and principal that Chip's Cookle Corporation (CCC) must repay on an installment note established January 1, 2021. CCC has a December 31 year-end and makes the required annual payments on December 31. Use the amortization schedule to determine (a) the amount of the (rounded) annual payment; (b) the amount of interest expense to report in the year ended December 31,2021( Year 1); (c) the note payable balance at January 1, 2024; and (d) the total interest and total principal paid over the note's entire life. (Round your answers to the nearest whole dollar amount.)