Record the journal entries.

1 What is the journal entry when XYZ Co takes a deposit of $50,000 on 100 notebook computers to be delivered to JWU at a special price of $500 each?

2 XYZ's 3 employees earned a total of $2,000 of wages for the week. XYZ deducted $400 for federal income taxes, 7.65% for FICA, $200 for state income taxes. The company pays a FICA matching tax and state unemployment tax of 4% and federal unemployment tax of 1%. Calculate the payroll deductions, net pay, and employer taxes for the week and answer the following questions:

What is the entry when XYZ records the payroll for the week (assume it is net pay paid that day)?