Journalize the payment of his wages for the week ended January $31,$ crediting Cash for the net amount.

Page: $1$

DATE

ACCOUNT TITLE

DOC. POST.

NO$.$ REF.

DEBIT

CREDIT

$1$ Jan. $31$ Wages and Salaries Expense grad

$2$ Employee Federal Income Tax Payable $vv$

$3$ Social Security Tax Payable $vv$

$4$ Medicare Tax Payable $$

$5$

Health Insurance Premiums Payable $$

$6$

Credit Union Payable $$

$7$

United Way Contributions Payable $$

$8$

$9$

Payroll for week ended January $31$

$9$

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Gross Pay, Deductions, and Net Pay deductions:

a$.$ Employee federal income tax $($Tax Tables: Refer to Figure $8-4$ in the text.$)$

b$.$ Social Security tax at $6\mathrm{.}2\%$

c$.$ Medicare tax at $1\mathrm{.}45\%$

d$.$ Health insurance premium, $$85$

e$.$ Credit union, $$125$

f$.$ United Way contribution, $$10$

Required:

Compute Chin's regular pay, overtime pay, gross pay, and net pay.

If required, round your answers to the nearest cent.

Regular pay

Overtime pay

Gross pay

Net pay