Exercise 8. For this problem please use dollars and cents and round to the nearest cent. Cindy Newers regualr hourly rate is $18/hour with time-and-a-half for any hours worked per week over 40 hours in a week. During a week in April, Cindy works 47 hours. Using Exhibit 2 in Objective 2 from the Chapter, calculate the Federal Tax to be withheld. Also, using the Social Security and Medicare percentages used in the textbook, calculate those amounts to be withheld. Cindy lives in Nevada (no State Income Tax) and has no voluntary amounts withheld. Calculate Cindys gross payroll for the week, amounts to be withheld, and her net pay (take home pay) for the week. Show the journal entry required for Cindys payroll (please show amounts in dollars and cents). For this exercise, ignore the Employer Tax Journal Entry.

Date	Account	debit	credit