Employee Net Pay

Kenneth Friedman's weekly gross earnings for the week ending December 18 were $2,940, and his federal income tax withholding was $558.6. Prior to this week, Friedman had earned $98,300 for the year. Assuming the social security rate is 6% and Medicare is 1.5%, what is Friedman's net pay? If required, round your answer to two decimal places.

Proceeds from Notes Payable

On September 1, Bella Salon Company issued a 30-day note with a face amount of $44,400 to Hamlet Hair Products Company for merchandise inventory. Assume a 360-day year. Determine the proceeds of the note, assuming the note carries an interest rate of 7%.