Question 2 (4 points) The total payroll of Carbon Company for the month of October was $ 250,000, all subject to CPP deductions of 4.95% and EI deductions of 1.66%. As well, $ 60,000 in federal income taxes and $ 5,000 of union dues were withheld. The employer matches the CPP employee deductions and contributes 1.4 times the employee EI deductions. The net pay (credit to Salaries Payable/Cash) for October's payroll would be $ A/ What amount should Carbon record as employer payroll tax expense for October? S Page 3 of 14 Question 3 (7 points) On November 1, 2019, Barton Corporation issued bonds with a face value of $2,500,000 due in 15 years, contract rate 6% and interest is paid semi-annually on May 1 and November 1 each year. The first interest payment is due May 1, 2020. The bonds were issued to yield 8%. Barton uses the effective interest method of amortization for bond discounts or premiums. The company's year-end is December 31. REQUIRED 1. Calculate the present value of this bond. (2 marks) 2. Prepare the journal entry to record the issue of the bonds. (1 mark) 3. Prepare any accrual entries required at December 31, 2019. (2 marks) 4. Prepare the journal entry for the May 1, 2020 interest payment. (2 marks) . Paragraph BIU - 1. Present Value, show calculations