Lori Waverly works for ADL all year and earns a monthly salary of $12,800. There is no overtime pay. Lori's income tax withholding rate is 12% of gross pay. In addition to payroll taxes, Lori elects to contribute 1% monthly to United Way. ADL also deducts $100 monthly for co-payment of the health insurance premium. As of September 30, Lori had $128,000 of cumulative earnings. (Click the icon to view payroll tax rate information.) Read the requirements. Requirement 2. Journalize the accrual of salaries expense and the payment related to the employment of Lori Waverly. (Record debits first, then credits. Select explanations on the last line of the journal entry table.) Begin with the entry to accrue salaries expense and payroll withholdings for Lori Waverly. (Round all amounts to the nearest cent.) Date Accounts and Explanation More info For all payroll calculations, use the following tax rates and round amounts to the nearest cent: Employee: Employer: OASDI: 6.2% on first $132,900 earned; Medicare: 1.45% up to $200,000, 2.35% on earnings above $200,000. OASDI: 6.2% on first $132,900 earned; Medicare: 1.45%; FUTA: 0.6% on first $7,000 earned; SUTA: 5.4% on first $7,000 earned. -