Lori Clover works for RWB all year and earns a monthly salary of $12,400. There is no overtime pay. Lori's income tax withholding rate is 10% of gross pay. In addition to payroll taxes, Lori elects to contribute 2% monthly to United Way. RWB also deducts $275 monthly for co-payment of the health insurance premium. As of September 30, Lori had $111,600 of cumulative earnings. (Click the icon to view payroll tax rate information.) Read the requirements. More Info Requirement 1. Compute Lori's net pay for October. (Round all amounts to the nearest cent.) For all payroll calculations, use the following tax rates and round amounts to the nearest cent: Withholding deductions: Employee: Employer: OASDI: 6.2% on first $118,500 earned; Medicare: 1.45% up to $200,000, 2.35% on earnings above $200,000. OASDI: 6.2% on first $118,500 earned; Medicare: 1.45% on all earnings; FUTA: 0.6% on first $7,000 earned; SUTA: 5.4% on first $7,000 earned. Question Viewer Print Done Net (take-home) pay Requirement 2. Journalize the accrual of salaries expense and the payment related to the employment of Lori Clover. (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 Clover. (Round all amounts to the nearest cent.) Date Accounts and Explanation Debit Credit 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 $118,500 earned; Medicare: 1.45% up to $200,000, 2.35% on earnings above $200,000. OASDI: 6.2% on first $118,500 earned; Medicare: 1.45% on all earnings; FUTA: 0.6% on first $7,000 earned; SUTA: 5.4% on first $7,000 earned. Now record the entry to record the payment of wages to Lori Clover. (Round all amounts to the nearest cent.) Print Print Done Done Date Accounts and Explanation Debit Credit