n Normal 1 No Spac.. Heading1 Heading 2 Tite Subtite Subtle Em... Emphasis Intense E... Strong Quote Styles You've just started your first accounting job, as the accounts payable and payroll derk for Copperfield and Company, a provider of delicate wine glasses to restaurants. Your predecessorleft the job suddenly, and was not able to complete all the tasks bef ore leaving You need to get up to speed and complete the unfinished tasks as soon as possible Your tasks on your first day are the following 1. Review the payroll journal entries made by your predecessor 2. Compute the relevant amounts for the company's shont-term note payable and determine whether your predecessor's journal entries are corredt 3. Confirm the journal entry for this year's payment on an installment note. 4. Make a recommendation as to whether the company shouldjournalize any warranty expense for the month You decide to get started -the sooner the better The following payroll journal entries for Oct. 15 were made by your predecessor. For FICA tax assume that the social security rate is 6,000 and the Medicare rate is 1.5%The state and federal unemployment tax ratesare 5.4% and 0.8% employees. Review the journal entries, then answer the questions that follow respectively. The company offers 401k plansto PAGE 32 GENERAL JOURNAL ACCOUNTING EQUATION CREDIT ASSETS LTADILITIES EQUITY 1 Oct 15 Salaries Expense 489,800.00 Wages Expense Social Security Tax Payable Medicare Tax Payable Employees Federal Income Tax Payabie Medical Insirance Payable Retirement Contributions Payable Salaries Payable 130,200.00 37,200.00 9,300.00 111,600.00 68,200.00 93,000 00 300,700.00 15 Paytoll Tax Expense 47,802.00 er isenc recert