No. 3Prepare the payroll for the last pay period of October from Time Clerks Report Nos. 40 and 41. The proper procedure in recording the payroll follows: Complete the payroll register. Post the required information from the payroll register to each employees earnings record. Record in the journal the salaries, wages, taxes withheld, group insurance premiums collected, union dues withheld, and net amount paid, and post to the proper ledger accounts. LO 3 The entry required to record the October 23 payroll is the same as that to record the October 9 payroll, except it is necessary to record the liability for the amount withheld from the employees wages to pay their part of the group insurance premium. The amount withheld should be recorded as a credit to Group Insurance Premiums Collected. Record in the journal the employers payroll taxes and the liabilities created; post to the appropriate ledger accounts