uestion 4 Emplovee Benefits 10 Marks 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 Jul Au Fortnightly Payroll 580 000 20 000 1300 000 700 000 600 000 1 300 000 Gross Payroll for the Month Deductions Pavable to: Taxation Authority 250 000 20 000 4 000 6 500 245 000 20 000 4 000 6 500 Health Fund munity Charit Union Fees Total Deductions for the Month Net Wages and Salaries Paid 14 July, 11 Au 28 July, 25 August 280 500 275 500 458 775 560 7251 019 500 471 270 1 024 500 553 230 1 300 000 1 300 000 The two fortnightly payrolls in August were for the fortnigh ended Friday, 7 August and Friday 21 August. The payrolls were processed and paid on the following Monday and Tursday respectively. Payroll deductions are remitted as follows Health Fund Deducions Union Fees 3rd day of the following month 3rd day of the following month Taxation Authority Community Charity 5th day of the following month 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. 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 renumeration as per the fnal payroll for August. (7 marks) 2. 3 marks)