Accounting for the payroll and accrual of wages and salaries   LO2 Lavender Ltd pays its employees on a fortnightly basis. All employee benefits are recognised as expenses. The following information is provided for its July and August payrolls. July August $ $ $ $ Fortnightly payroll 580 000 700 000 720 000 600 000 Gross payroll for the month 1 300 000 1 300 000 Deductions payable to: Taxation authority 250 000 245 000 Health fund 20 000 20 000 Community charity 4 000 4 000 Union fees 6 500 6 500 Total deductions for the month 280 500 275 500 Net wages and salaries paid 14 July, 11 August 458 775 553 230 28 July, 25 August 560 725 1 019 500 471 270 1 024 500 1 300 000 1 300 000 The two fortnightly payrolls in August were for the fortnight ended Friday, 7 August and Friday, 21 August. The payrolls were processed and paid on the following Monday and Tuesday respectively. Payroll deductions are remitted as follows. Health fund deductions 3rd day of the following month Union fees 3rd day of the following month Taxation authority 15th day of the following month Community charity 21st day of the following month Required 1. Prepare all journal entries to account for the August payroll and all payments relating to employee benefits during August. 2. Prepare a journal entry to accrue wages for the remaining days in August not included in the final August payroll. Use the same level of remuneration as per the final payroll for August.