1. A business issued a $5,000, 60-day note to a supplier, which discounted the note at 12%. The proceeds are: A. $4,400. B. $4,900. C. $5,000. D. $5,100. 2. Which of the following taxes are employers...

1. A business issued a $5,000, 60-day note to a supplier, which discounted the note at 12%. The proceeds are: A. $4,400. B. $4,900. C. $5,000. D. $5,100.

2. Which of the following taxes are employers usually not required to withhold from employees? A. Federal income tax B. Federal unemployment compensation tax C. Medicare tax D. State and local income taxes