On July 1. Alaskan Adventures issues a $120,000, eight-month, 65% note. Interest is payable at maturity. What is the amount of Interest expense that the company would record in a year-end adjustment on December 312 Mike Samson is a college football coach making a base salary of $638.400 a year ($53,200 per month). Employers are required to withhold a 62% Social Security tax up to a maximum base amount and a 1.45% Medicare tax with no maximum. Assuming the FICA base amount is $128.400 1. Compute how much will be withheld during the year for Coach Samson's Social Security and Medicare. (Round your final answers to 2 decimal places.) Social security Medicare 2. What matching amount will the employer need to contribute? (Round your final answer to 2 decimal places) timployer's contribution During December, Far West Services makes a $5,200 credit sale. The state sales tax rate is 6% and the local sales tax rate is 2.5% Record sales and sales tax payable. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet