Current Attempt in Progress On January 1.2022, the ledger of Wildhorse Co. contained these liability accounts. $43,600 Accounts Payable Sales Taxes Payable Unearned Service Revenue 7.700 20.100 During January, the following selected transactions occurred. Jan 1 Borrowed $18.000 in cash from Apex Bank on a 4-month, 5%. $18.000 note. 5 Sold merchandise for cash totaling 56.890, which includes 6% sales taxes. 12 Performed services for customers who had made advance payments of $10,800. (Credit Service Revenue.) 14 Paid state treasurer's department for sales taxes collected in December 2021. 57.700. 20 Sold 6 10 units of a new product on credit at 554 per unit, plus 5% sales tax During January, the company's employees earned wages of 588.000. Withholding related to these wages were 56.732 for Social Security FICA. 55.229 for federal income tax and $1.569 for state income tax. The company owed no money related to these earnings for federal or state unemployment tax. Assume that was earned during January will be paid during February. No entry had been recorded for wages or payroll tax expense as of January 31. numare the banuary transactions ditarunt automatically indeed w sentered Donnt indert maramily Roond anal entries in the order coronted in the Journalize the January transactions. (Credit account titles are automatically Indented when amount is entered Do notIndent moral Record journal entries in the order presented in the problem. Round answers to nearest whole dollar amount. es. 5.275.) Date Account Titles and Explanation Debit one Journalize the adjusting entries at January 31 for the outstanding note payable and for salaries and wages expense and payroll tax expense. (Creditoccount titles are Indented when amount is entered. Do not indent manually) Date Account Titles and Explanation Debit Credit Jan. 31 (To record the interest on outstanding notes payable.) Jan. 31 (To record payroll and withholding taxes Jan. 31 Prepare the current liabilities section of the balance sheet at January 31, 2022. Assume no change in Accounts Payable WILDHORSE CO. Balance Sheet (Partial)