1. Proceeds from notes payable On January 26, Nyree Co. borrowed cash from Conrad Bank by issuing a 45-day note with a face amount of $300,000. Assume 360 days in a year. a. Determine the proceeds of the note, assuming the note carries an interest rate of 6%. fill in the blank 1 of 2$ b. Determine the proceeds of the note, assuming the note is discounted at 6%. fill in the blank 2 of 2$

2. The payroll register of Heritage Co. indicates $4,800 of social security withheld and $1,200 of Medicare tax withheld on total salaries of $80,000 for the period. Earnings of $14,000 are subject to state and federal unemployment compensation taxes at the federal rate of 0.8% and the state rate of 5.4%.

Journalize the entry to record the payroll tax expense for the period. If an amount box does not require an entry, leave it blank.

3. An employee earns $25 per hour and 1.5 times that rate for all hours in excess of 40 hours per week. If the employee worked 52 hours during the week.

Assume that the social security tax rate is 6.0%, the Medicare tax rate is 1.5%, and the employees federal income tax withheld is $225.

a. Determine the employees gross pay for the week. fill in the blank 1 of 2$

b. Determine the employees net pay for the week. For interim computations, carry amounts out to two decimal places. Round your final answer to two decimal places.

4.