On January 1, 2022, Oriole Company's accounting records contained these liability accounts.

Accounts Payable		$43,000
Sales Taxes Payable		7,100
Unearned Service Revenue		19,500

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 $5,724, which includes 6% sales taxes.
12		Performed services for customers who had made advance payments of $10,400. (Record Service Revenue.)
14		Paid state treasurers department for sales taxes collected in December 2021, $7,100.
20		Sold 550 units of a new product on credit at $45 per unit, plus 6% sales tax.

During January, the companys employees earned wages of $73,000. Withholdings related to these wages were $5,585 for FICA, $5,214 for federal income tax, and $1,564 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.

(a)

Prepare a tabular summary to record the January transactions and the adjustments on January 31 for the outstanding note payable and the salaries and wages expense and payroll tax expense. Include margin explanations for the changes in revenues and expenses. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced. Round answers to 0 decimal places, e.g. 5,275.)

		Assets			=	Liabilities																			+	Stockholders Equity
																										Paid-in-Capital		Retained Earnings
		Cash	+	Accts. Rec.	=	Notes Pay.	+	Acct. Pay.	+	Salaries & Wages Pay.	+	Unearned Serv. Rev.	+	Sales Taxes Pay.	+	Interest Pay.	+	FICA Taxes Pay.	+	Fed. Inc. Taxes Pay.	+	St. Inc. Taxes Pay.	+	State Unemp. Taxes Pay.	+	Common Stock	+	Revenue	-	Expense	-	Dividend
Bal.		$enter a balance		$enter a balance		$enter a balance		$enter a balance		$enter a balance		$enter a balance		$enter a balance		$enter a balance		$enter a balance		$enter a balance		$enter a balance		$enter a balance		$enter a balance		$enter a balance		$enter a balance		$enter a balance	select an option

Jan. 1		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount	select an option

Jan. 5		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount	select an option

Jan. 12		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount	select an option

Jan. 14		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount	select an option

Jan. 20		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount	select an option

Adj.
Jan. 31		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount	select an option

Jan. 31		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount

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