Question: Question 2 Tim's gross payroll for the work week ending January 14 was $210,000. The company deducted $10,472 for CPP, 57,034 for El, and $28,300

Question 2 Tim's gross payroll for the work week ending January 14 was $210,000. The company deducted $10,472 for CPP, 57,034 for El, and $28,300 for income tax from the employees' pay. Chen's payroll costs for the week were $10,472 for CPP and $9,848 for EL Required Prepare the journal entries to record the above transactions. Explanations are not required. DATE ACCOUNT DEBIT CREDIT Question 3 On January 1, 2020, Denver Corporation issued 5-year, 7% bond with a maturity value of $225,000. The bonds sell at 91.00 and pay interest on July 1 and January 1. Denver Corporation amortizes the bond using the effective interest rate method. The market rate is 8%

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