At Dantzler Manufacturing, the estimated gross payroll total for all employees this year is $870,000. The job classifi cations and their estimated payroll are as follows: administrative staff $150,000, warehouse staff $230,000, and manufacturing staff $490,000. The premium rate for administrative staff is 0.2%, warehouse staff 1.4%, and manufacturing staff 3.8%. Actual payroll is $883,000. The job classifications and their actual payroll are as follows: administrative staff $148,000, warehouse staff $235,000, and manufacturing staff , $500,000. 

a. Prepare the journal entry for the payment of workers’ compensation premium. 

b. Prepare the adjusting entry required at year-end. 

c. Determine if the company will either receive a credit for overpaid premium or pay an additional premium.