Lakeview Company completed the following two transactions. The annual accounting period ends December $31.$

a$.$ On December $31,$ calculated the payroll, which indicates gross earnings for wages $($$$112,000).$ payroll deductions for income tax

$($$$11,200),$ payroll deductions for FICA $),$ payroll deductions for American Cancer Society $($$$4,200),$ employer contributions for

FICA $($matching$),$ and state and federal unemployment taxes $($ $$980).$ Employees were paid in cash, but payments for the

corresponding payroll deductions have not yet been made and employer taxes have not yet been recorded.

b$.$ Collected rent revenue of $$6,600$ on December $10$ for office space that Lakeview rented to another business. The rent collected

was for $30$ days from December $11$ to January $10$ and was credited in full to Deferred Revenue.

Requlred:

& $2.$ Prepare the journal entries to record payroll on December $31,$ the collection of rent on December $10$ and adjusting journal entry

on December $31.$

Show how any of the liabilities related to these items should be reported on the company's balance sheet at December $31.$

Complete this question by entering your answers in the tabs below.

Prepare the journal entries to record payroll on December $31,$ the collection of rent on December $10$ and adjusting journal entry on

December $31.($Do not round intermediate calculations. If no entry is required for a transaction$/$event$,$ select $"$No Journal Entry Required"

in the first account field.$)$

Journal entry worksheet

Record the wages expense, including payroll deductions.

Note: Enter debits before credits.