Please complete all parts. Part I (1) What is the difference between gross earnings and net earnings? (2) Please give two examples of withholdings from employees' pay and explain whether your selected withholdings are considered required or voluntary. (3) An employee earns $36 per hour and 1.5 times that rate for all hours in excess of 40 hours per week. Assume that the employee worked 55 hours during the week, and that the gross pay prior to the current week totaled $52,200. Assume further that the social security tax rate was 6.2%, the Medicare tax rate was 1.45%, and federal income tax to be withheld was $518. a. Determine the employee's gross pay for the week. If applicable, round your final answer to two decimal places. b. Determine the employee's net pay for the week. Part II Urban Window Company had gross wages of $224,000 during the week ended July 15. $201,600 was subject to the 6.2% social security tax and $224,000 was subject to the 1.45% Medicare tax. The total amount withheld from employee wages for federal taxes was $44,800. Record the journal entry to record payroll for the week of July 15. Part III Jet-Clean sold washing machines totaling $1 million. Each washing machine carries a three-year warranty. Jet-Clean estimates that warranty repairs on the washing machines will cost 1 percent of the sales price. (1) Record the journal entry to accrue Jet-Clean's warranty costs. (2) Jet-Clean paid $750 for washing machine repairs under warranty. Please record this entry.