All requirements neede

For all payroll calculations, use the following tax rates and round amounts to the nearest cent. Employee: OASDI: 6.2% on first $132,900 carned; Medicare 1.45% up to $200,000, 2.35% on carnings above $200,000. Employer OASDE: 6.2% on first $132,900 earned; Modicare: 1.45%, FUTA: 0.6% on first $7,000 carned; SUTA: 5.4% on first $7,000 carned. P-F:11-25A Journalixing and posting liabilities Learning Objectives 1, 2 The general ledger of Seal-N-Ship at June 30, 2024, the end of the company's fiscal year, includes the following account balances before payroll and adjusting cntries. The additional data needed to develop the payroll and adjusting entries at June 30 are as follows: a. The long-term debt is payable in annual installments of $42,000, with the next installment due on July 31. On that date, Seal-N-Ship will also pay one year's interest at 9%. Interest was paid on July 31 of the preceding year. Make the adjusting entry to accrue interest expense at year-end. b. Gross unpaid salaries for the last payroll of the fiscal year were $4,700. Assume that employee income taxes withheld are $910 and that all carnings are subject to OASDI. c. Record the associated employer taxes payable for the last payroll of the fiscal year, $4,700. Assume that the carnings are not subject to unemployment compensation taxics. d. On February 1, the company collected one year's rent of $7,200 in advance. 4 Financial chapter 11 Requirements 1. Using T-accounts, open the listed accounts and insert the unadjusted June 30 balances. 2. Journalize and post the June 30 payroll and adjusting entries to the accounts that you opened. Identify each adjusting entry by letter. Round to the nearest dollar. 3. Prepare the current liabilities section of the balance sheet at June 30,2024