Sandler 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 ($460,000), payroll deductions for Income tax ($ 48,000), payroll deductions for FICA ($40,000), payroll deductions for United Way ($6,000), employer contributions for FICA (matching), and state and federal unemployment taxes ($4,000). Employees were paid in cash, but payments for the corresponding payroll deductions have not been made and employer taxes have not yet been recorded. b. Collected rent revenue of $2,100 on December 10 for office space that Sandler rented to another business. The rent collected was for 30 days from December 12 to January 10 and was credited in full to Deferred Revenue. Required: 1. & 2. Prepare the entries required on December 31 to record payroll, the collection of rent on December 10 and adjusting Journal entry on December 31. 3. Show how any liabilities related to these items should be reported on the company's balance sheet at December 31. Complete this question by entering your answers in the tabs below. Req 1 and 2 Req3 Prepare the entries required on December 31 to record payroll, the collection of rent on December 10 and adjusting journal entry on December 31. (If no entry is required for a transaction/event, select "No Journal Entry Required in the first account field.) View transaction list View journal entry worksheet No Date Credit Debit 460.000 2 1 December 31 General Journal Salaries and Wages Expense Income Tax Payable FICA Payable Charitable Contributions Payable Cash 48,000 40,000 6,000 368,000 2 2 December 31 Payroll Tax Expense FICA Payable State and Federal Unemployment Tax Payable 40.000 4,000 2 3 December 10 2100 Cash Deferred Revenue 4 December 31 Deferred Revenue Rent Revenue Sandler 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 ($460,000), payroll deductions for Income tax $48,000), payroll deductions for FICA ($40,000), payroll deductions for United Way ($6,000), employer contributions for FICA (matching), and state and federal unemployment taxes ($4,000). Employees were pald In cash, but payments for the corresponding payroll deductions have not been made and employer taxes have not yet been recorded. b. Collected rent revenue of $2,100 on December 10 for office space that Sandler rented to another business. The rent collected was for 30 days from December 12 to January 10 and was credited in full to Deferred Revenue. Required: 1. & 2. Prepare the entries required on December 31 to record payroll, the collection of rent on December 10 and adjusting Journal entry on December 31. 3. Show how any liabilities related to these items should be reported on the company's balance sheet at December 31. Complete this question by entering your answers in the tabs below. Reg 1 and 2 Reg 3 Show how any liabilities related to these items should be reported on the company's balance sheet at December 31. (Do not round intermediate calculations.) SANDLER COMPANY Balance Sheet (partial) At December 31 Current Liabilities Income Tax Payable FICA Payable Charitable Contributions Payable Charitable Contributions Payable Deferred Revenue