The owner of a taxi business(“Speedy”)has been having difficulties in accounting for the company’s liabilities and equity and has asked for your assistance (ignore GST).

Required:
(a) PAYROLL LIABILITY: On 15 September 2020, Speedy directly transferred $30,000 to employees’ bank accounts for salaries for the first half of September 2020. PAYE withheld amounted to $10,000. The next payroll will be paid on 1 October 2020 for the same amount. Additionally, on 5 October 2020, PAYE for the 15 September 2020 transaction will be paid to the taxation authorities. 

 Journalese, in general, journal format, the 15 September 2020 payroll transaction.