PA10-3 (Algo) Recording and Reporting Current Liabilities (LO 10-2] 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 ($88.0001.payroll deductions for income tax (58.800), payroll deductions for FICA (56600), payroll deductions for American Cancer Society ($1.300), employer contributions for FICA matching, and state and federal unemployment taxes (770). Employees were paid inish, but payments for the corresponding payroll deductions have not yet been made and employer toes have not yet been recorded Collected rent revenue of $6,150 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 Reven Required: 1. & 2. Prepare the journal entries to record payroll on December 31, the collection of tent on December 10 and acusting journal entry on December 31 3. Show how any of the abilities 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. Reg 1 and 2 Reg 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 found intermediate calculations. If no anty is required for a transaction/event, select "No Journal Entry quired Prov to 6 BE Next > 1 Req 1 and 2 Rega 16.66 points Prepare the journal entries to record payroll on December 31, the collection of rent on December 10 and adjusting imal entry on December 31. (Do not found intermediate calculations. If no entry is required for a transaction/event, select "No lournal Entry Required in the first account held.) View transaction list Journal entry worksheet Record the payroll tax expense Noter Enter debits before credits General Journal Debit Credit Date December 31 ul 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 lournal Entry Required" In the first account field.) View transaction list Journal entry worksheet 1 2 4 Record the collection of 30 days' rent in advance amounting to $6,150. Note: Enter debits before credits General Journal Date December 10 Debit Credit DO Joints payroli 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.) Skipped View transaction list eBook Journal entry worksheet Print 1 2 3 $ Record the adjusting entry relating to rent. Note: Enter debts before credits Date General Journal Debit Credit December 31 Req 1 and 2 Reg 3 Show how any of the liabilities related to these items should be reported on the company's balance sheet at December 31. (Do not round intermediate calculations.) ped LAKEVIEW COMPANY Balance Sheet (partial) At December 31 bok 31 $ 0