Ryan's Sparkling Jewels estimated its payroll for the coming year to be $84,000. Its workers' compensation insurance premium rate of 0.6% is paid at the beginning o each quarter, Required: 1. Calculate the estimated cost of workers' compensation insurance for the year. 2. Show the journal entry for the first quarterly payment on January 2, 20-. If an amount box does not require an entry, leave it blank. Page: POST. DATE DESCRIPTION DEBIT CREDIT REF. 1 Jan. 2 2. 3 3a. Assume Ryan's actual payroll for the year was $89,000. Calculate the additional premium owed for 20--. 3b. Assume Ryan's actual payroll for the year was $89,000. Record the adjustment needed on December 31, 20-, The actual payment of the additional insurance premium willl not take place until January of the following year. If an amount box does not require an entry, leave it blank. Page: POST. DATE DESCRIPTION DEBIT CREDIT REF. 1 Dec. 31 1.