Journalize PeriodPayroll

Thepayroll registerof Patel Engineering Co. indicates $2,580 of social security withheld and $645 of Medicare tax withheld on total salaries of $43,000 for the period. Federal withholding for the period totaled $7,310.

Provide the journal entry for the period's payroll. If an amount box does not require an entry, leave it blank.

A business issued a 90-day note for $57,000 to a creditor on account. The note was discounted at 9%. 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.

a.

b.Journalize the entry to record the payment of the note at maturity.

b.

Breakin Away Company has three employees-a consultant, a computer programmer, and an administrator. The following payroll information is available for each employee:

ConsultantComputer ProgrammerAdministratorRegular earnings rate$3,110 per week$30 per hour$42 per hourOvertime earnings rateNot applicable1.5 times hourly rate2 times hourly rateNumber of withholding allowances321

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 thegross payand thenet payfor 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$$$