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Salary Expense and Payroll Tax Expense Ergo Company has one employee who is paid a...

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Accounting

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Salary Expense and Payroll Tax Expense Ergo Company has one employee who is paid a salary of $8,500 per month. Payroll information for the first month of the year is: Part 1: Prepare Ergo's joumal entry to record the first month's salary expense and employee withholdings. Payroll tax expense will be recorded in part 2. Part 2: Prepare Ergo's joumal entry to record employer payroll taxes for the first month's payroll. Part 3. Prepare Ergo's joumal entry to record finge benefits for the first month's payroll. Problem Two: On September 1, 2022, Hare Today pet-supply store Co. borrowed $9.000 from Gone Tomorrow Bank, signing a 6-month, 4-percent note. Interest is to be paid at maturity. Hare Today and Gone Tomorrow both have a December 31 year-end. 1. Record the joumal entry for the transaction for Hare Today, the borrower, on September 1, 2022. 3. Record the journal entry for the payment of the amount due to Gone Tomorrow at the note's maturity on March 1, 2023

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