Payroll Information: All employees are paid as noted in the information below. Overtime is paid at time and a half (regular pay plus % regular pay). Vacation pay (4%) is retained from hourly and commission employees, until the employee takes a vacation. Vacation pay is not calculated for salaries employees. The El rate is 1.4% times the employee deductions. It is assumed that the employer is exempt from the Employee Health Tax (EHT). Union Dues are deducted from hourly and commission employees' paycheques. The company has a pension plan. The Company allows employees to receive a payroll loan up to $800.00 for extenuating circumstances. The loan is repayable by all employees at $50.00 per pay. There are no outstanding loans. January Pay Dates: Hourly and commission employees are paid weekly on Friday. Salaried employees are paid bi-monthly (15th and 31st). Medical Pension Union Dues Safety Shoes Weekly: January 3rd Deductions per pay period January 10th Hourly employees: January 17th Commission employees: January 24th Salary employees: January 31st Bi-monthly January 15th January 31st 2. Record and Post the following transactions for January. Jan 2 Received "Memo Sal-Rev" from the owner to reverse the December 31st payroll accrual in the amount of $1,500 for all employees. (The total accrual for wages and salaries was accrued in Salaries Expense at December 31, 2024.) Jan 3 Process a payroll cheque run for 1st payroll of month. Note: A-LAST NAME, First Name worked 40 hours +4 hours overtime, and Canon, Marisa worked 40 hours and earned $468 in commissions. Jan 6 Jan 7 Jan 10 Jan 13 Jan 13 Canon, Marisa phoned this morning requesting one week off for personal reasons and asked for her vacation pay. Released total vacation pay owning (40 hours) as of January 3rd. Did not deduct for medical plan or union dues. A-LAST NAME, First Name brought his paycheque to the office. It was confirmed there was an error with the paycheque. In addition to 40 regular hours, First Name should have been paid for 5 overtime hours. Issue a replacement cheque (next available cheque number) for the correct amount to YOUR ACTUAL LAST, First Name. Hourly payroll for the week ending January 10th is recorded. A-LAST NAME, First Name worked 40 regular hours. Canon, Marisa returned to work today. She was approved for a staff loan of $565.00 as her car motor needed repairs. Issue next cheque. Issued next cheque to the Receiver General for the EI, CPP and Income Tax payable balances outstanding at January 1st, 2025. Jan 15 Bi-monthly salary payroll for January 15th is recorded. Jan 17 Process a payroll cheque run for the weekly pay period: A-LAST NAME, First name worked 40 regular hours plus 2 overtime hours. Canon, Marisa worked 32 hours and earned commission of $682. Jan 24 Process a payroll cheque run for the weekly pay period: A-LAST NAME, First name worked 40 hours plus 5 overtime hours. Canon, Marisa worked 40 hours this week and earned $549 commission. Jan 31 Process the payroll cheque run for ALL employees. Note: A-LAST NAME, First Name worked 32 regular hours. Canon, Marisa worked 36 hours for $561 commission. Jan 31 Process the payroll cheque run for ALL employees. Note: A-LAST NAME, First Name worked 32 regular hours. Canon, Marisa worked 36 hours for $561 commission. 3. Print the following reports to PDF or Excel format: a. Journal Entries All (No corrections) for the period of the entries b. Payroll Journal Entries, with corrections to Jan 31. c. Employee Detail (all employees for month of January). d. Cheque Log at Jan 31. 4. Provide the balance of each of the following accounts as at January 31: (enter numbers only, e.g. 10000 or -20000) Account Number 1210 2300 $ 2420 $ 2450 $ 5300 $ 5310 $ 5320 $ 5330 $ Balance