Compute and record workers' compensation insurance premiums for Perez Manufacturing as follows:

The firm estimates that its office employees will earn $$46,000$ next year and its factory employees will earn $$162,000.$ The firm pays the following rates for workers' compensation insurance: $$0\mathrm{.}40$ per $$100$ of wages for the office employees and $$3\mathrm{.}50$ per $$100$ of wages for the factory employees. Compute the estimated premiums for $201.$ In a general journal, record the payment of the estimated premium. Date the entry as January $12,201.$

On January $3,202,$ an audit of the firm's payroll records for $201$ showed that the firm had actually paid wages of $$48,000$ to its office employees and $$165,000$ to its factory employees. Compute the actual premium for the year and the balance due the insurance company or the credit due the firm. In the general journal, record the entry to adjust the Workers' Compensation Insurance Expense as of the end of $20$X$1.$ Date the entry as December $31,201.$

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Compute the estimated premiums for $201.$

Estimated premiums