Required 1. Prepare entries in journal form for the notes payable transactions.2

Required 1. Prepare entries in journal form for the notes payable transactions.2. When notes payable appears on the balance sheet what other current liability would you look for to be associated with the notes? What would it mean if this other current liability did not appear?Part B: The payroll register for Nazir Corporation contained the following totals at the end of July: wages $139125; federal income taxes withheld $35582; state income taxes withheld $5863; Social Security tax withheld $8626; Medicare tax withheld $2017; medical insurance deductions $4800; and wages subject to unemployment taxes $85860.Required Prepare entries in journal form to record the (1) monthly payroll and (2) employer payroll expenses assuming Social Security and Medicare taxes equal to the amount for employees a federal unemployment insurance tax of 0.8 percent a state unemployment tax of 5.4 percent and medical insurance premiums for which the employer pays 80 percent of the cost.