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Im having trouble on the boxes that are red On January 1, 2019, the ledger of Cullumber Company contains the following liability accounts. Accounts Payable
Im having trouble on the boxes that are red
On January 1, 2019, the ledger of Cullumber Company contains the following liability accounts. Accounts Payable Sales Taxes Payable Unearned Service Revenue $50,100 7,000 15,500 During January, the following selected transactions occurred Jan. 5 Sold merchandise for cash totaling $20,520, which includes 8% sales taxes 12 Performed services for customers who had made advance payments of $10,000. (Credit Service Revenue.) 14 Paid state revenue department for sales taxes collected in December 2018 ($7,000 20 Sold 800 units of a new product on credit at $50 per unit, plus 8% sales tax. 21 Borrowed $22,500 from Girard Bank on a 3-month, 896, $22,500 note. 25 Sold merchandise for cash totaling $12,420, which includes 8% sales taxes. Journalize the January transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Account Titles and Explanation Debit Date Credit Jan. 5 Cash 20520 Sales Taxes Payable 1520 Sales Revenue 19000 Jan. 12 Unearned Service Revenue 10000T Service Revenue 10000 7000 Jan. 14 4 Sales Taxes Payable Cash 7000 Jan. 20 Accounts Receivable 43200 3200 Sales Taxes Payable Sales Revenue 40000 Jan. 21 Cash 22500 Notes Payable 22500 Jan. 25 Cash 12420 Sales Taxes Payable 920 Sales Revenue 11500 Your answer is partially correct. Try again. Prepare the current liabilities section of the balance sheet at January 31, 2019. Assume no change in accounts payable. Cullumber Company Balance Sheet (Partial) January 31, 2019 Current Liabilities 22500 Notes Payable Sales Taxes Payable 5640 Unearned Service Revenue 10000 50 Interest Payable 43200 Accounts Receivable 33910 Total Current Liabilities SHOW LIST OF ACCOUNTSStep by Step Solution
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