Riverside Company completed the following two transactions. The annual accounting period ends December 31. a. On December 31, calculated the payroll, which indicates gross earnings for wages ($150,000), payroll deductions for Income tax ($15,000), payroll deductions for FICA ($14,000), payroll deductions for United Way ($2,800), employer contributions for FICA (matching), and state and federal unemployment taxes ($1,700). Employees were paid in cash, but these payments and the corresponding payroll deductions and employer taxes have not yet been recorded. b. Collected rent revenue of $4,080 on December 10 for office space that Riverside rented to another business. The rent collected was for 30 days from December 11 to January 10 and was credited in full to Deferred Revenue. P10-3 (Algo) Part 1 equired: & 2. Complete the required journal entries to record payroll on December 31, collection of rent on December 10 and the adjusting Journal entry on December 31. TIP: Notice that the entry recorded on December 10 Includes 10 days of rental space (out of 30) that isn't provided until after December 31. (Do not round intermediate calculations. If no entry is required for a transaction/event, select "No Journal Entry Required" In the first account field.) Answer is not complete. No Date General Journal 1 December 31 Salaries and Wages Expense Income Tax Expense Dividends Payable No Journal Entry Required Cash Debit 150,000 15,000 x 14,000 2 December 31 Payroll Tax Expense 29,700 x FICA Payable 14,000 State and Federal Unemployment Taxes Payable 1,700 Other Revenue 3 December 10 Cash Deferred Revenue 4 December 31 Deferred Revenue Rent Revenue Credit 151,200 4,080 4,080 1,360x 1,360