On January 1, 2017, Sandhill Co.'s accounting records contained these liability accounts.

Accounts Payable		$43,500
Sales Taxes Payable		7,100
Unearned Service Revenue		20,000

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 $5,300, which includes 6% sales taxes.
12		Performed services for customers who had made advance payments of $10,600. (Record Service Revenue.)
14		Paid state treasurers department for sales taxes collected in December 2016, $7,100.
20		Sold 600 units of a new product on credit at $46 per unit, plus 6% sales tax.

During January, the companys employees earned wages of $72,900. Withholdings related to these wages were $5,577 for Social Security (FICA), $5,207 for federal income tax, and $1,562 for state income tax. The company owed no money related to these earnings for federal or state unemployment tax. Assume that wages earned during January will be paid during February. Wages or payroll tax expense have not been recorded as of January 31.

Assets

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Liabilities

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Stockholders Equity

Paid-in-Capital

Retained Earnings

Cash

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Accts. Rec.

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Notes Pay.

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Acct. Pay.

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Salaries & Wages Pay.

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Unearned Serv. Rev.

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Sales Taxes Pay.

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Interest Pay.

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FICA Taxes Pay.

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Fed. Inc. Taxes Pay.

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St. Inc. Taxes Pay.

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State Unemp. Taxes Pay.

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Common Stock

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Revenue

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Expense

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Dividend