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  3. 1. branson, inc. signed a $80,000, 5% 3-month note

1. Branson, Inc. signed a $80,000, 5% 3-month note payable on November 1, 2019. a....

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1. Branson, Inc. signed a $80,000, 5% 3-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 Stockholders' Equity b. What is total amount (principal and all interest expense) that will be repaid at maturity? 2. Nicole Smith earns $2,500 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. Assets Liabilities Stockholders' Equity 3. The December 20 cash register readings for Dress for Less, Inc. reflect cash sales of $36,000 and sales taxes of $2,880 (sales tax rate of 8%). Record on the accounting equation. Assets Liabilities Stockholders' Equity 4. Answer the following related to bond prices: a. If the market rate = contract rate, the bond is sold at b. If the market rate > contract rate, the bond is sold at C. If the market rate contract rate, the bond is sold at

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