Problem 8-8B Gross Pay, Deductions, and Net Pay Elyse Lin works for Columbia Industries. Her rate of pay is $9 per hour, and she is paid 1 times the regular rate for all hours worked in excess of 40 per week. During the last week of January of the current year, she worked 46 hours. Lin is married and claims two withholding allowances on her W-4 form. Her weekly wages are subject to the following deductions: Employee federal income tax (Tax Tables: Single and Married) Social Security tax at 6.2% Medicare tax at 1.45% Health insurance premium, $92 Credit union, $110 United Way contribution, $5 Required: Hint(s) 1. Compute Lin's regular pay, overtime pay, gross pay, and net pay. If required, round your answers to the nearest cent. Regular pay $ Overtime pay $ Gross pay $ Net pay $ Hide Feedback Partially Correct Check My Work Feedback Net pay represents the amount the employee will take home in their paycheck. Hint(s) Hide 2. Journalize the payment of her wages for the week ended January 31, crediting Cash for the net amount. When required, enter amounts in dollars and cents. If an amount box does not require an entry, leave it blank. GENERAL JOURNAL page DATE ACCOUNT TITLE DOC. NO. POST. REF. DEBIT CREDIT 1 20-- Jan. 31 1 2 2 3 3 4 4 5 5 6 6 7 7 8 8 9 Payroll for week ended January 31 9