Response to the following problem:
An employee of Monroe Hospital earns a salary of $4,000 per month, payable on the first day of the following month. Assume that the federal income tax withholding is 20 percent and that the FICA tax is 7 percent.
With respect to this one employee, make the following necessary entries:
a. Record the employee's gross earnings, tax deductions, and net pay for January 20X1.
b. Accrue the hospital's share of FICA taxes as of January 31, 20X1.
c. Record issuance of the paycheck on February 1, 20X1.
d. Record remittance of January payroll taxes to the government.