Holden Smith manages a Frosty Boy drive-in. His straight-time pay is $15 per hour, with time-and-a-half for hours in excess of 40 per week. Smith's payroll deductions include withheld income tax of 30%, FICA tax, and a weekly deduction of $7 for a charitable contribution to United Way. Smith worked 49 hours during the week. (Click the icon to view payroll tax rate information.) Read the Requirement 1. Compute Smith's gross pay and net pay for the week. Assume earnings to date are $16,000. (Round all amounts to the nearest cent.) Begin by computing Smith's gross pay for the week. Requirements 1. Compute Smith's gross pay and net pay for the week. Assume earnings to date are $16,000. 2. Journalize Frosty Boy's wages expense accrual for Smith's work. An explanation is not required. 3. Journalize the subsequent payment of wages to Smith