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For this following questions what is the answers for requirement 2-5? And how do i get th answers Score: 0.29 of 10 pts 2 of

For this following questions what is the answers for requirement 2-5? And how do i get th answers image text in transcribed

Score: 0.29 of 10 pts 2 of 2 (2 complete) HUN Score: 50.58%, 10.12 of 20 CP11-36 (open response) Question Help Nature Gnome Company's Avery and Zeus Washington are continuing their analysis of the company's position and believe the company will need to borrow $30,000 in order to expand operations. They consult Mountain Man Bank and secure a 12%, one-year note on September 1, 2019, with interest due at maturity. Additionally, the company hires an employee, Jaden Valen, on September 1. Jaden will receive a salary of $4,500 per month. Payroll deductions include federal income tax at 30%, OASDI at 6.2%, Medicare at 1.45%, and monthly health insurance premium of $130. The company will incur matching FICA taxes, FUTA tax at 0.6%, and SUTA tax at 5.4%. Round calculations to two decimals. Omit explanations on journal entries Read the requirements Requirement 1. Record the issuance of the $30,000 note payable on September 1, 2019. (Record debits first, then credits. Exclude explanations from any journal entries. Check your spelling carefully and do not abbreviate.) Debit Credit Date 2019 Sep. 1Cash Accounts 30,000 Note payable 30,000 Requirement 2. Record the employee payroll and employer payroll tax entries on September 30, 2019. (Round all calculations to two decimal places. Record debi first, then credits. Exclude explanations from any journal entries. Check your spelling carefully and do not abbreviate.) Start by preparing the compound journal entry to record salaries expense and payroll withholdings on September 30, 2019. Do not record the employer payroll tax with this entry. We will do that in the following step Debit Credit Date 2019 Sep. 30 Accounts 1. Record the issuance of the $30,000 note payable on September 1, 2019 2. Record the employee payroll and employer payroll tax entries on September 30, 2019 3. Record all payments related to September's payroll. Payments are made on October 15, 2019. 4. Record the entry to accrue interest due on the note at December 31, 2019. 5. Record the entry Nature Gnome Company would make to record the payment to the bank on September 1, 2020

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