Data for Betsy Strand are presented in BE10-5. Prepare the employers journal entries to record (a) Betsys pay for the period and (b) the payment of Betsys wages. Use January 15 for the end of the pay period and the payment date. Problem BE10-5Betsy Strands regular hourly wage rate is $16 and she receives an hourly rate of $24 for work in excess of 40 hours. During a January pay period Betsy works 47 hours. Betsys federal income tax withholding is $95 and she has no voluntary deductions. Compute Betsy Strands gross earnings and net pay for the pay period. Assume that the FICA tax rate is 7.65%.