Entries for Discounted Note Payable A business issued a 30-day note for $51,000 to a creditor on account. The note was discounted at 6%. 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. Accounts Payable Interest Expense Notes Payable b. Journalize the entry to record the payment of the note at maturity. b. Notes Payable $1,000 Cash 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 Administrator Computer Programmer $32 per hour $2,410 per week Regular earnings rate Overtime eamings rate $48 per hour 2 times hourly rate Not applicable 1.5 times hourly 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 employee's amount subject to withholding and $1,796.00. Assume further that the social security tax rate was 6%, the Medicare tax rate was 1.5%, and one withholding allowance is $70. 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 Summary Payroll Data In the following summary of data for a payroll period, some amounts have been intentionally omitted: Earnings: 1. At regular rate 2. At overtime rate $63,800 3. Total earnings Deductions: 4. Social security tax 25,560 5. Medicare tax 6. Income tax withheld 6,390 108,500 14,700 7. Medical insurance 8. Union dues 9. Total deductions 158,000 268,000 10. Net amount paid 225,800 Accounts debited: 11. Factory Wages 12. Sales Salaries 13. Office Salaries 85,200 a. Calculate the amounts omitted in lines (1), (3), (8), and (12). (3) (8) (12) b. Journalize the entry to record the payroll accrual. If an amount box does not require an entry, leave it blank. Journalize the entry to record the payroll accrual. If an amount box does not require an entry, leave it F. Journalize the entry to record the payment of the payroll