On January 1, 2014, the ledger of Hiatt Company contained these liability accounts. During January, the following selected transactions occurred. Jan. 1 Borrowed $18,000 in cash from Premier Bank on a 4-month, 5%, $18,000 note. 5 Sold merchandise for cash totaling $6,254, which includes 6% sales taxes. 12 Performed services for customers who had made advance payments of $10,000. (Credit Service Revenue.) 14 Paid state treasurer's department for sales taxes collected in December 2013, $6,600. 20 Sold 500 units of a new product on credit at S48 per unit, plus 6% sales tax. During January, the company's employees earned wages of $70,000. Withholdings related to these wages were $5,355 for Social Security (FICA), $5,000 for federal income tax, and $1,500 for state income tax. The company owed no money related to these earnings for federal or state unemployment tax. Assume thet wages earned during January will be paid during February. No entry had been recorded for wages or payroll tax expense as of January 31