On December 31, Alvarez Company estimates that it will pay its employees a 3% bonus on net income after deducting the bonus. The company reports net income of $52,000 before the calculation of the bonus. The bonus will be paid on January 15 of the next year. Read the regulements (Check your spelling carefully and do not abbreviate Record debits fest then credits. Round all amounts to the nearest cent. Select the explanation on the last line of the journal entry table) Requirement 1. Journalize the December 31 transaction for Alvarez Dute Accounts and Explanation Credit Dec 31 Debit Requirements 1. Journalize the December 31 transaction for Alvarez. 2 Joumalize the payment of the bonus on January 15 Print Done Cheryl Love works at College of Portland and is paid $30 per hour for a 40 hour workweek and time-and-a-half for hours above 40, Click the icon to view payroll tax rate information) Read the requirements Requirement 1. Compute Love's gross pay for working 46 hours during the first week of February Gross Pay Requirements 1. Compute Love's gross pay for working 46 hours during the first week of February 2. Love is single, and her income tax withholding is 10% of total pay. Love's only payroll deductions are payroll taxes. Compute Loves net (take-home) pay for the week. Assume Loves earnings to date are less than the OASDI limit, 3. Journalize the crust of wages expense and the payments related to the employment of Cheryl Love Print Done Cheryl Love works at College of Portland and is paid $30 per hour for a 40-hour workweek and time and a half for hours above 40 (Click the icon to view payroll tax rate information) Read the routements Requirement 1. Compute Love's gross pay for working 46 hours during the first week of February Gross Pay More info For al payroll calculations, use the following tax rates and round amounts to the nearest cent Employee: OASDI 6 2 on first $132.900 earned: Medicare: 1.45% up to $200,000, 235% on earnings above $200,000 Employer OASDI 6.2 on first $132.900 earned: Medicare: 1.45, FUTA: 06) on first $7,000 earned, SUTA: 54% on first $7.000 earned Print Done