please round to two decimal places

Keesha Co. borrows $225,000 cash on November 1 of the current year by signing a 90-day, 8%, $225,000 note. 1. On what date does this note mature? 2. & 3. What is the amount of interest expense in the current year and the following year from this note? 4. Prepare journal entries to record (a) issuance of the note, (b) accrual of interest on December 31, and (c) payment of the note at maturity. Complete this question by entering your answers in the tabs below. Req 1 Req 2 and 3 Req 4 What is the amount of interest expense in the current year and the following year from this note? (Use 360 days a year. Round final answers to the nearest whole dollar.) Total through maturity Interest Expense Current Year Interest Expense Following Year $ 225,000 $ 225,000 $ 225,000 Principal Rate (%) 8% 8% 8% Time 90/360 30/360 x 60/360 x Total interest $ 4,500 $ 1,500 X $ 3,000 X Keesha Co. borrows $225,000 cash on November 1 of the current year by signing a 90-day, 8%, $225,000 note. 1. On what date does this note mature? 2. & 3. What is the amount of interest expense in the current year and the following year from this note? 4. Prepare journal entries to record (a) issuance of the note, (b) accrual of interest on December 31, and (c) payment of the note at maturity Complete this question by entering your answers in the tabs below. Reg 1 Req 2 and 3 Reg 4 Prepare journal entries to record (a) issuance of the note, (b) accrual of interest on December 31, and (c) payment of the note at maturity. (Use 360 days a year. Do not round intermediate calculations.) No Transaction General Journal Debit Credit 1 (a) Cash 225,000 Notes payable 225,000 2 (b) 1,500 X Int expense Interest payable 1,500 x (c) Interest expense Interest payable Notes payable Cash 3,000 X 1,500 X 225,000 229,500 On January 8, the end of the first weekly pay period of the year, Regis Company's employees earned $27,760 of office salaries and $60,840 of sales salaries. Withholdings from the employees' salaries include FICA Social Security taxes at the rate of 6.2%, FICA Medicare taxes at the rate of 1.45%, $13,060 of federal income taxes, $1,410 of medical insurance deductions, and $800 of union dues. No employee earned more than $7,000 in this first period. Required: 1.1 Calculate below the amounts for each of these four taxes of Regis Company. Regis's state unemployment tax rate is 5.4% of the first $7,000 paid to each employee. The federal unemployment tax rate is 0.6%. 1.2 Prepare the journal entry to record Regis Company's January 8 employee payroll expenses and liabilities. 2. Prepare the journal entry to record Regis's employer payroll taxes resulting from the January 8 payroll. Regis's state unemployment tax rate is 5.4% of the first $7,000 paid to each employee. The federal unemployment tax rate is 0.6%. Complete this question by entering your answers in the tabs below. Req 1A Req 1B Req 2 Calculate below the amounts for each of these four taxes of Regis Company. Regis's state unemployment tax rate is 5.4% of the first $7,000 paid to each employee. The federal unemployment tax rate is 0.6%. (Round your answers to 2 decimal places.) Tax Regis Company's: January 8 earnings Tax Rate subject to tax $ 88,600 6.20% Tax Amount 5,493.20 FICA-Social Security FICA-Medicare 1.45% 1,284.70 FUTA 88,600 88,600 88,600 0.60% 5.40% 531.60 4,784.40 SUTA On January 8, the end of the first weekly pay period of the year, Regis Company's employees earned $27,760 of office salaries and $60,840 of sales salaries. Withholdings from the employees' salaries include FICA Social Security taxes at the rate of 6.2%, FICA Medicare taxes at the rate of 1.45%, $13,060 of federal income taxes, $1,410 of medical insurance deductions, and $800 of union dues. No employee earned more than $7,000 in this first period. Required: 1.1 Calculate below the amounts for each of these four taxes of Regis Company. Regis's state unemployment tax rate is 5.4% of the first $7,000 paid to each employee. The federal unemployment tax rate is 0.6%. 1.2 Prepare the journal entry to record Regis Company's January 8 employee payroll expenses and liabilities. 2. Prepare the journal entry to record Regis's employer payroll taxes resulting from the January 8 payroll. Regis's state unemployment tax rate is 5.4% of the first $7,000 paid to each employee. The federal unemployment tax rate is 0.6%. Complete this question by entering your answers in the tabs below. Req 1A Req 1B Req 2 Prepare the journal entry to record Regis Company's January 8 employee payroll expenses and liabilities. (Round your answers to 2 decimal places.) No Date General Journal Debit Credit 1 Jan 08 27,760.00 60,840.00 13,060.00 5,493.00 Office salaries expense Sales salaries expense Employee fed. inc. taxes payable FICASocial sec. taxes payable FICAMedicare taxes payable Employee medical insurance payable Employee union dues payable Salaries payable 1,285.00 1,410.00 800.00 66,552.00 Req 1A Req 1B Reg 2 Prepare the journal entry to record Regis's employer payroll taxes resulting from the January 8 payroll. Regis's state unemployment tax rate is 5.4% of the first $7,000 paid to each employee. The federal unemployment tax rate is 0.6%. (Round your answers to 2 decimal places.) No Date General Journal Debit Credit 1 Jan 08 12,094.00 5,493.00 Payroll taxes expense FICASocial sec. taxes payable FICAMedicare taxes payable Federal unemployment taxes payable State unemployment taxes payable 1,285.00 X 532.00 4,784.00