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Business, 18.12.2019 23:31 brittanysanders

Sunny hills farm estimated its payroll for the coming year to be $102,000. its workers' compensation insurance premium rate of 0.6% is paid at the beginning of each quarter. required: 1. calculate the estimated cost of workers' compensation insurance for the year. 2. show the journal entry for the first quarterly payment on january 2, 3. assume sunny hills farm's actual payroll for the year was $105,000. calculate the additional premium owed for record the adjustment needed at december 31, the actual payment of the additional insurance will not take place until january of the following year.

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