4. Jupiter Company signed a one-year $47,000 note payable at 8% interest on May 1, 2016. If Jupiter Company only adjusts its accounts once a year at year-end, how much interest expense was accrued on December 31, 2016?

3. On June 1, 2017, Smith & Beecham Services issued $32,000 of 8% bonds that mature in five years. They were issued at par. The bonds pay semiannual interest payments on June 30 and December 31 of each year. On December 31, 2017, what is the total amount paid to bondholders

2. A company that uses the perpetual inventory system purchased 500 pallets of industrial soap for $8,000 and paid $900 for the freight-in. The company sold the whole lot to a supermarket chain for $13,000 on account. Which of the following entries correctly records the sale

1. Berkley's gross pay for the month is $7,400. His deduction for federal income tax is based on a rate of 18%. He has no voluntary deductions. His yearly pay is under the limit for OASDI. What is Berkley's net pay? (Assume a FICAOASDI Tax of 6.2% and FICAMedicare Tax of 1.45%.