Gross Pay, Deductions, and Net Pay Donald Chin works for Northwest Supplies. His rate of pay is $12.00 per hour, and he is paid 1k times the regular rate for all hours worked in excess of 40 per week. Ouring the last week of January of the current year, he worked 48 hours. Chin is married and claims three withholding allowances on his W-4 form. His weekly wages are subject to the following deductions: a. Employee federal income tax (Tax Tables: Refer to Figure 84 in the text.) b. Social Security tax at 6.2% c. Medicare tox at 1.45% d. Health jnsurance premium, 380 e. Credit union, $120 f. United Way contribution, 510 Required: 1. "Compute Chin's reguler pay, overtime pay, gross poy, and net pay. If required, found your intermediate and final answers to the nearest cent. Regular pay Overtime pay Gross pay Net pay 2. Journalize the paymen of his wages for the week ended January 31 , crediting Cash for the net amount. Page: 1 DATE ACCOUNT TITLE 1 Jan. 31 Wages and Salaries Expense 2 Employee Federal Income Tax Payable 3 4 5 6 7 8 9 Social Security Tax Payable Medicare Tax Payable Health Insurance Premiums Payable Credit Union Payabie United Way Contributions Payable Cash Payroll for week ended January 31 DOC. POST. NO. REF. DEBIT CREDIT 1 2 3 4 5 6 7 8 9