Question: 1. Branson, Inc. signed a $80,000, 3% 5-month note payable on November 1, 2019. a. If no prior adjustments have been made, what is

1. Branson, Inc. signed a $80,000, 3% 5-month note payable on November 1, 2019. a. If no prior adjustments have been made, what is the transaction to accrue interest expense at December 31, 2019 when Branson prepares financial statements? Assets Liabilities b. What is total amount (principal and all interest expense) that will be repaid at maturity? Assets Stockholders' Equity 2. Nicole Smith earns $2,700 in gross pay. She has $250 in federal withholding, $75 in state withholding and 7.65% in social security and Medicare taxes (FICA) withheld. Record her payroll on the accounting equation. Liabilities Stockholders' Equity

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