Entries for Discounted Note Payable A business issued a 120-day note for $63,000 to a creditor on account. The note was discounted at 7%. Assume a 360-day year. a. Journalize the entry to record the issuance of the note. For a compound transaction, if an amount box does not require an entry, leave it blank. If necessary, round to one decimal place. a. b. Journalize the entry to record the payment of the note at maturity. Calculate Payroll Breakin Away Company has three employees-a consultant, a computer programmer, and an administrator. The following payroll information is available for each employee Consultant Computer Programmer Administrator Regular earnings rate Overtime earnings rate Number of withholding allowances For the current pay period, the computer programmer worked 60 hours and the administrator worked 50 hours. The federal income tax withheld for all three employees, who are single, can be determined by adding $356.90 to 28% of the difference between the en oyees amount sub ect to nold and $1,796.00. Assume further that the social security tax rate was 696, the Medicare tax rate was 1.5%, and one withholding allowance is $70. $2,810 per week $32 per hour $48 per hour Not applicable 1.5 times hourly rate2 times hourly rate Determine the gross pay and the net pay for each of the three employees for the current pay period. Assume the normal working hours in a week are 40 hours. If required, round your answers to two decimal places. Consultant Computer Programmer Administrator Gross pay Net pay Accrued Product Warranty Parker Manufacturing Co. warrants its products for one year. The estimated product warranty is 3% of sales. Assume that sales were $281,000 for January. In February, a customer received warranty repairs requiring $145 of parts and $80 of labor For a compound transaction, if an amount box does not require an entry, leave it blank. a. Journalize the adjusting entry required at January 31, the end of the first month of the current fiscal year, to record the accrued product warranty. b. Journalize the entry to record the warranty work provided in February