4. Easy Company had the following transactions related to note payables:

• 9/1/20X1 Borrowed $24,000 from Ace Bank and signed an 8% note due in 6 months
• 12/1/20X1 Borrowed $50,000 from Leeward Bank and signed a 9% note due in 1 year
• 12/31/20X1 Accrued interest on Ace Bank note
• 12/31/20X1 Accrued interest on Leeward Bank note
• 3/1/20X2 Paid the principal and interest on Ace Bank note
• 12/1/20X2 Paid the principal and interest on Leeward Bank note

DATE	ACCOUNT	DEBIT	CREDIT

5. Use the information below to prepare the journal entry to accrue the employee payroll and employer's payroll tax for last week of January:

Office salaries $9,300

Sales wages $7,500

Federal income taxes withheld $900

Social security tax 6%

Medicare tax 1.5%

Medical insurance deductions $500

State unemployment tax 5.4%

Federal unemployment tax .6%

DATE	ACCOUNT	DEBIT	CREDIT