The following Information relates to Ponte Manufacturing Company's workers' compensation Insurance premlums for 20X1. On January 15,20X1, the company estimated Its premlum for workers' compensation insurance for the year on the basis of that data. Required: 1. Compute the estlmated premlums. 2 Record In general journal form payment of the estimated premlum on January 15, 201. 3. On January 4, 20X2, an audit of the firm's payroll records showed that it had actually pald wages of $58,960 to its office employees and wages of $304,320 to its shop employees. Compute the actual premlum for the year and the balance due the Insurance company or the credit due the firm. 4. Prepare the general Journal entry on December 31,20X1, to adjust the Workers' Compensation Insurance Expense account. Analyze: If all wages were attrlbutable to shop employees, what premlum estimate would have been calculated and recorded on January 15 . 201? Complete this question by entering your answers in the tabs below. Compute the estimated premiums. Note: Round "Insurance Rate" answers to 3 decimal places. i.e., 12.3% should be entered as 0.123 Record in general journal form payment of the estimated premium on January 15,201. Note: Round your answers to 2 decimal places. Journal entry worksheet Record payment of estimated workers compensation for the year: Note: Enter debits before crecits. On January 4,202, an audit of the firm's payroll records showed that it had actually paid wages of $58,960 to its office employees and wages of $304,320 to its shop employees. Compute the actual premium for the year and the balance due the insurance company or the credit due the firm. Note: Round "Insurance Rate" answers to 3 decimal places, i.e., 12.3% should be entered as 0.123 repare the general journal entry on December 31,201, to adjust the Workers' Compensation Insurance Expense account. lote: Round your answers to 2 decimal places. Journal entry worksheet Record the balance due to the insurance company or the credit due the firm. Note: Enter debits before credits. If all wages were attributable to shop employees, what premium estimate would have been calculated and recorded on January 15,201