Laurant Landscaping pays federal income taxes at a rate of 35 percent of taxable income. On January 1, 1996, Laurant estimated that taxable income would be $400,000 for 1996 and based its quarterly tax payments on that amount. Quarterly tax payments of $34,000 were made on April 15, June 15, September 15, and December 15. As of December 31, 1996, actual taxable income was determined to be $415,000. REQUIRED:

a. Provide the journal entries that Laurant recorded when the quarterly tax payments were made on April 15, June 15, September 15, and December 15.

b. Provide the journal entry to accrue the federal tax liability as of December 31, 1996