Golden Lake Company's Avery and Zeger Waldron are continuing their analysis of the company's position and believe the company will need to borrow $35,000 in order to expand operations. They consult Rapid River Bank and secure a 9%, one-year note on

September 1, 2025, with interest due at maturity. Additionally, the company hires an employee, Jacob Valen, on September 1. Jacob will receive a salary of $1,000 per month. Payroll deductions include federal income tax at 40%,OASDI at 6.2%, Medicare at 1.45%, and monthly health insurance premium of $100 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.

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Requirements:

1.	Record the issuance of the $35,000 note payable on September 1, 2025.
2.	Record the employee payroll and employer payroll tax entries on September30,2025.
3.	Record all payments related to September's payroll. Payments are made on October 15, 2025.
4.	Record the entry to accrue interest due on the note at December 31, 2025.
5.	Record the entry Golden Lake Company would make to record the payment to the bank on September 1, 2026.

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(Record debits first, then credits. Exclude explanations from any journal entries.)

Date	Accounts	Debit	Credit
2025
Sep. 1