An employer of a manufacturing company is responsible for the following taxes. Show the journal entry to record payroll taxes and the employer$$s liability for the taxes. How does this transaction affect the company$$s assets, liabilities, and expenses.

FICA tax$$OASDI on employees: $6\mathrm{.}2\%$

FICA tax$$HI on employees: $1\mathrm{.}45\%+0\mathrm{.}9\%$ on wages in excess of $$200,000$

Federal income tax withholding

FICA tax$$OASDI on employers: $6\mathrm{.}2\%.$FICA tax$$HI on employers: $1\mathrm{.}45\%$

Net FUTA tax: $0\mathrm{.}6\%$

SUTA tax: $2\mathrm{.}5\%$

Wage amount: $$4,000$