During January $2022,$ the following transactions occurred. $($Bonita Company uses the perpetual inventory system.$)$

Bonita paid $$290$ interest on the note payable on January $1,2022.$ The note is due December $31,2023.$

Bonita purchased $$302,876$ of inventory on account.

Bonita sold for $$510,400$ cash, inventory which cost $$307,400.$ Bonita also collected $$33,176$ in sales taxes.

Bonita paid $$266,800$ in accounts payable.

Bonita paid $$19,720$ in sales taxes to the state.

Paid other operating expenses of $$34,800.$

On January $31,2022,$ the payroll for the month consists of salaries and wages of $$84,000.$ All salaries and wages are subject

to $7\mathrm{.}65\%$ FICA taxes. A total of $$10,360$ federal income taxes are withheld. The salaries and wages are paid on February $1.$

Adjustment data:

Interest expense of $$290$ has been incurred in January on the notes payable.

The insurance for the year $2022$ was prepaid on December $31,2021.$

The equipment was acquired on December $31,2021,$ and will be depreciated on a straight$-$line basis over $5$ years with a

$$2,320$ salvage value.

Employer's payroll taxes include $7\mathrm{.}65\%$ FICA taxes, a $5\mathrm{.}4\%$ state unemployment tax, and an $0\mathrm{.}6\%$ federal unemployment tax.

Sales Revenue

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Employer's payroll taxes include $7\mathrm{.}65\%$ FICA taxes, a $5\mathrm{.}4\%$ state unemployment tax, and an $0\mathrm{.}6\%$ federal unemployment tax.

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