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: DESCRIPTION POST. REF. DEBIT CREDIT DATE 1 Jan. 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. DATE 1 Dec. 31 2 3 DESCRIPTION POST. REF DEBIT CREDIT 1 2 3