Kings Ltd pays its employees on a monthly basis. The payroll is processed on the 6th day of the month and payable on the 7th day of the month. Gross salaries for July were \($300\)  000, from which \($75\)  000 was deducted in tax. All of Kings Ltd’s salaries are accounted for as expenses. Deductions for health insurance were \($6\)  000. Payments for health insurance and employee income taxes withheld are due on the 20th day of the following month.

Required 

1. Prepare all journal entries to record the July payroll, the payment of July salaries and the remittance of deductions.

2. Calculate the balance of the Accrued Payroll account at the end of July.