On April 12, Hong Company agrees to accept a 60-day, 10%, $4,500 note from Indigo Company to extend the due date on an overdue account. What is the journal entry that Indigo Company would make, when it records payment of the note on the maturity date? (Use 360 days a year.) Debit Notes Payable $4,500; debit Interest Expense $75; credit Cash $4,575. Debit Notes Payable $4,500; credit Interest Expense $75, credit Cash $4,425. Debit Cash $4,575; credit Interest Revenue $75; credit Notes Payable $4,500. Debit Notes Payable $4,500; debit Interest Expense $112; credit Cash $4,612 Debit Cash $4,575; credit Interest Revenue $75; credit Notes Receivable $4,500. Question 9 (1 point) During the first week of January, an employee works 46 hours. For this company, workers earn 150% of their regular rate for hours in excess of 40 per week. Her pay rate is $16 per hour, and her wages are subject to no deductions other than FICA Social Security, FICA Medicare, and federal income taxes. The tax rate for Social Security is 6.2% of the first $118,500 earned each calendar year and the FICA tax rate for Medicare is 1.45% of all earnings. The current FUTA tax rate is 0.6%, and the SUTA tax rate is 5.4%. Both unemployment taxes are applied to the first $7,000 of an employee's pay. The employee has $80 in federal income taxes withheld. What is the amount of this employee's gross pay for the first week of January? On April 12, Hong Company agrees to accept a 60-day, 10%, $4,500 note from Indigo Company to extend the due date on an overdue account. What is the journal entry that Indigo Company would make, when it records payment of the note on the maturity date? (Use 360 days a year.) Debit Notes Payable $4,500; debit Interest Expense $75; credit Cash $4,575. Debit Notes Payable $4,500; credit Interest Expense $75, credit Cash $4,425. Debit Cash $4,575; credit Interest Revenue $75; credit Notes Payable $4,500. Debit Notes Payable $4,500; debit Interest Expense $112; credit Cash $4,612 Debit Cash $4,575; credit Interest Revenue $75; credit Notes Receivable $4,500. Question 9 (1 point) During the first week of January, an employee works 46 hours. For this company, workers earn 150% of their regular rate for hours in excess of 40 per week. Her pay rate is $16 per hour, and her wages are subject to no deductions other than FICA Social Security, FICA Medicare, and federal income taxes. The tax rate for Social Security is 6.2% of the first $118,500 earned each calendar year and the FICA tax rate for Medicare is 1.45% of all earnings. The current FUTA tax rate is 0.6%, and the SUTA tax rate is 5.4%. Both unemployment taxes are applied to the first $7,000 of an employee's pay. The employee has $80 in federal income taxes withheld. What is the amount of this employee's gross pay for the first week of January