Answer Happy

16 On May 22, Jarrett Company borrows $8,300, signing a 90-day, 8%, $8,300 note. What is the journal entry made by Jarrett Company to record the payment of the note on the maturity date? 2 points Multiple Choice Debit Notes Payable $8,300, credit interest Expense $166; credit Cash $8,134 Debit Notes Payable $8,300; credit Cash $8,300. Debit Notes Payable $8,466, credit Cash $8,466 Debit Notes Payable $8.300, debit interest Expense $166, credit Cash $8,466. Debit Cash $8,466: credit interest Revenue $166, credit Notes Receivable $8,300.

17 An employee earned $43,800 during the year working for an employer when the maximum limit for Social Security was $137,700. The Federal Insurance Contributions Act (FICA) tax rate for Social Security is 6.2% and the Federal Insurance Contributions Act (FICA) tax rate for Medicare is 1.45%. The employee's annual Federal Insurance Contributions Act (FICA) taxes amount is: 2 points Multiple Choice O O $3,35070 $2.715.60 $6,70140 $635.10 $6,066-30