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On January 1, 2022, Sheridan Company's accounting records contained these liability accounts. During January, the following selected transactions occurred. Jan, 1 Borrowed $18,000 in cash

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On January 1, 2022, Sheridan Company's accounting records contained these liability accounts. During January, the following selected transactions occurred. Jan, 1 Borrowed $18,000 in cash from Apex Bankon 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 $12,500. (Record Service Revenue.) 14 Paid state treasurer's department for sales taxes collected in December 2021,$8,400. 20 Sold 680 units of a new product on credit at $50 per unit, plus. 6% sales tax. During lanuary, the company's employees earned wages of $70,300 Withhoidirgs related to these wages were $5,378 for FICA. $5,021 for federal income tax, and $1,506 for state income tax. The company owed no money related to these earnings for federal or state unemplayment tax. Assume that wages earned during January will be paid during February. Wages or payrehl taxexpense have not becn recarded 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 expetnse. Include margin explanationis for the changes in revenues and expenses, (Wf a tronsaction couses a decrease in Assets, Llablities or Stockholders Equity place a negative sign for parentheses) in front of the amount entered for the porticular Asset, Liability or Equily item that was reduced. Round answers to 0 decimal ploces, es 5,275 J Assets Bal. Jan. 5 Jan. 12 Jan, 14 tan.20 Adj. Question 6 of 6 Jan. 14 Jan. 20 Adj. tan31 Jan.31 Jan. 31 Bal. Question 6 of 6 15;: Chapter 9 A Homework Question 6 of 6 Question 6 of 6 15 is 5 InterestPay.+FICATaxesPay. $ $ 5 .15 Chapter 9 A Homework Question 6 of 6 Question 6 of 6 15i 15 Stockholders' Equity Retained Earnings Expense Dividend $ $ Question 6 of 6 15: eTextbook and Media On January 1, 2022, Sheridan Company's accounting records contained these liability accounts. During January, the following selected transactions occurred. Jan, 1 Borrowed $18,000 in cash from Apex Bankon 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 $12,500. (Record Service Revenue.) 14 Paid state treasurer's department for sales taxes collected in December 2021,$8,400. 20 Sold 680 units of a new product on credit at $50 per unit, plus. 6% sales tax. During lanuary, the company's employees earned wages of $70,300 Withhoidirgs related to these wages were $5,378 for FICA. $5,021 for federal income tax, and $1,506 for state income tax. The company owed no money related to these earnings for federal or state unemplayment tax. Assume that wages earned during January will be paid during February. Wages or payrehl taxexpense have not becn recarded 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 expetnse. Include margin explanationis for the changes in revenues and expenses, (Wf a tronsaction couses a decrease in Assets, Llablities or Stockholders Equity place a negative sign for parentheses) in front of the amount entered for the porticular Asset, Liability or Equily item that was reduced. Round answers to 0 decimal ploces, es 5,275 J Assets Bal. Jan. 5 Jan. 12 Jan, 14 tan.20 Adj. Question 6 of 6 Jan. 14 Jan. 20 Adj. tan31 Jan.31 Jan. 31 Bal. Question 6 of 6 15;: Chapter 9 A Homework Question 6 of 6 Question 6 of 6 15 is 5 InterestPay.+FICATaxesPay. $ $ 5 .15 Chapter 9 A Homework Question 6 of 6 Question 6 of 6 15i 15 Stockholders' Equity Retained Earnings Expense Dividend $ $ Question 6 of 6 15: eTextbook and Media

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