5 of 12 < > -/2 Karen Corbin's regular hourly wage rate is $14, and she receives an hourly rate of $21 for work in excess of 40 hours. During a January pay period, Karen works 45 hours. Karen's federal income tax withholding is $96, she has no voluntary deductions, and the FICA tax rate is 7.65%. Use January 15 for the end of the pay period and the payment date. Prepare the journal entries to record (a) Karen's pay for the period and (b) the payment of Karen's wages. (Round Intermediate calculation and final answers to 2 decimal places, eg. 15.25. Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Date Account Titles and Explanation (a) Jan 15 (b) Jan. 15 Debit Credit Current Attempt in Progress On June 1, Swifty Company borrows $120,000 from First Bank on a 6-month, $120,000,8% note. (a) Prepare the entry on June 1. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation June 1 eTextbook and Media List of Accounts Debit Credit (b) (c) -14 E manually) Prepare the adjusting entry on June 30. (Credit account titles are automatically indented when amount is entered. Do not indent Date Account Titles and Explanation June 30 eTextbook and Media List of Accounts Save for Later Debit Credit Attempts: 0 of 5 used Submit Answer -14 E !!! Prepare the entry at maturity (December 1), assuming monthly adjusting entries have been made through November 30. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Dec. 1 eTextbook and Media List of Accounts Save for Later Debit Credit Attempts: 0 of 5 used Submit Answer 72F List of Accounts Save for Later (d) What was the total financing cost (interest expense)? Total financing cost $ eTextbook and Media List of Accounts Save for Later Attempts: 0 of 5 used Submit Answer Attempts: 0 of 5 used Submit