Proceeds from Notes Payable On May 15, Maynard Co. borrowed cash from Texas Bank by issuing a 30-day note with a face amount of $63,600. Assume a 360-day year. Required: a. Determine the proceeds of the note, assuming the note carries an interest rate of 7%. $ b. Determine the proceeds of the note, assuming the note is discounted at 7%. $ Federal Income Tax Withholding Bob Dunn's weekly gross earnings for the present week were $2,540. Dunn has three exemptions. Using the wage bracket withholding table in Exhibit 2 with a $75 standard withholding allowance for each exemption, what is Dunn's federal income tax withholding? Round your answer to two decimal places. Employee Net Pay Colin Friedman's weekly gross earnings for the week ended April 22 were $1,000, and his federal income tax withholding was $180. Assuming the social security rate is 6% and Medicare is 1.5%, what is Colin's net pay? Note: If required, round your answer to two decimal places. Journalize Period Payroll The payroll register of Chen Engineering Co. indicates $1,380 of social security withheld and $345 of Medicare tax withheld on total salaries of $23,000 for the period. Federal withholding for the period totaled $3,910. Provide the journal entry for the period's payroll. If an amount box does not require an entry, leave it blank