Sunny Hills Farm estimated its payroll for the coming year to be $102,000. Its workers' compensation insurance premium rate of 0.6% is paid at the beginning of 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 REF. DATE DESCRIPTION DEBIT CREDIT 1 Jan. 2 1 2 3 3a. Assume Sunny Hills Farm's actual payroll for the year was $105,000. Calculate the additional premium owed for 20 3b. Assume Sunny Hills Farm's actual payroll for the year was $105,000. Record the adjustment needed at December 31, 20-. The actual payment of the additional insurance will not take place until January of the following year. If an amount box does not require an entry, leave it blank Previous m ulat Online teaching and learning resource from Cenga Calculator 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 REF DATE DESCRIPTION DEBIT CREDIT 1 Jan. 2 2 3a. Assume Sunny Hills Farm's actual payroll for the year was $105,000. Calculate the additional premium owed for 20-- 3b. Assume Sunny Hills Farm's actual payroll for the year was $105,000. Record the adjustment needed at December 31, 20--. The actual payment of the additional insurance will not take place until January of the following year. If an amount box does not require an entry, leave it blank Page: POST REF DATE DESCRIPTION DEBIT CREDIT 1 Dec. 31 2. 3 3