On January 1, 2022, the ledger of Blossom Company contained these liability accounts. Accounts Payable $43,700 Sales Taxes Payable 7,800 Unearned Service Revenue 20,200 During January, the following selected transactions occurred. Borrowed $18,000 in cash from Apex Bank on a 4-month, 5%, $18,000 note. Jan. 1 Sold merchandise for cash totaling $6,678, which includes 6% sales taxes. 5 Performed services for customers who had made advance payments of $12,300. (Credit Service Revenue.) 12 Paid state treasurer's department for sales taxes collected in December 2021, $7,800. 14 Sold 620 units of a new product on credit at $45 per unit, plus 6% sales tax. 20 During January, the company's employees earned wages of $90,000. Withholdings related to these wages were $6,885 for Social Security (FICA), $5,679 for federal income tax, and $1,704 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. No entry had been recorded for wages or payroll tax expense as of January 31. On January 1.2022, the ledger of Blossom Company contained these liability accounts Accounts Payable Sales Taxes Payable $43,700 2,800 20,200 Uneamed Service Revenue During January, the following selected transactions occurred. Jan 1 Barrawd $18,000 in cash from Apex Bank an a 4-manth, 5%, $18,000 note 5 Sold merchandise for ash totaling $6,678, whith includes 6% sales taxes. 12 Performed services for customers who had macle advance payments of $12.300. (Credit Service Revenue Fald state treasurer's doaartment tor sales tawes callected in Docember 2021, $7.800 14 20 Sald 620 units of a new product on credit at $45 per unit, plus 6% sales tax During January, the compeny's employees earned wages of $90,000.Withholdings related to these wages were $6885 for Social Security (FICA) $5,679 for federal income tax, and $1.704 for state income tax. The comparty awed no money related to these earnings for feceral or state unemployment tax. Assume that wages earned during January wil be paid during February. No entry had been recorded for wages or payrol taxexperse as of January 31 Joumallze the January transactions. (Credit account titles are automatically iIndented when amount Is entered. Do not Indent manually. Record Journal entrles in the order presenteed in the problem. Round answers to nearest whole dollar amount, e.s. 5,275.) Date Account Titles and Explanation Debit Credit Journalize the adjusting entries at January 31 for the outstanding note payable and for salaries and wages expense and payroll tax expense. (Credit account titles are automatically inden ted when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Date Credit Jan. 31 (To record the interest on outstanding notes payable.) Jan. 31 (To record payroll and withholding taxes.) Jan. 31 (To record employer's payroll taxes.) Prepare the current liabilities section of the balance sheet at January 31,2022. Assume no change in Accounts Payable. BLOSSOM COMPANY Balance Sheet (Partial) $ $ On January 1, 2022, the ledger of Blossom Company contained these liability accounts. Accounts Payable $43,700 Sales Taxes Payable 7,800 Unearned Service Revenue 20,200 During January, the following selected transactions occurred. Borrowed $18,000 in cash from Apex Bank on a 4-month, 5%, $18,000 note. Jan. 1 Sold merchandise for cash totaling $6,678, which includes 6% sales taxes. 5 Performed services for customers who had made advance payments of $12,300. (Credit Service Revenue.) 12 Paid state treasurer's department for sales taxes collected in December 2021, $7,800. 14 Sold 620 units of a new product on credit at $45 per unit, plus 6% sales tax. 20 During January, the company's employees earned wages of $90,000. Withholdings related to these wages were $6,885 for Social Security (FICA), $5,679 for federal income tax, and $1,704 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. No entry had been recorded for wages or payroll tax expense as of January 31. On January 1.2022, the ledger of Blossom Company contained these liability accounts Accounts Payable Sales Taxes Payable $43,700 2,800 20,200 Uneamed Service Revenue During January, the following selected transactions occurred. Jan 1 Barrawd $18,000 in cash from Apex Bank an a 4-manth, 5%, $18,000 note 5 Sold merchandise for ash totaling $6,678, whith includes 6% sales taxes. 12 Performed services for customers who had macle advance payments of $12.300. (Credit Service Revenue Fald state treasurer's doaartment tor sales tawes callected in Docember 2021, $7.800 14 20 Sald 620 units of a new product on credit at $45 per unit, plus 6% sales tax During January, the compeny's employees earned wages of $90,000.Withholdings related to these wages were $6885 for Social Security (FICA) $5,679 for federal income tax, and $1.704 for state income tax. The comparty awed no money related to these earnings for feceral or state unemployment tax. Assume that wages earned during January wil be paid during February. No entry had been recorded for wages or payrol taxexperse as of January 31 Joumallze the January transactions. (Credit account titles are automatically iIndented when amount Is entered. Do not Indent manually. Record Journal entrles in the order presenteed in the problem. Round answers to nearest whole dollar amount, e.s. 5,275.) Date Account Titles and Explanation Debit Credit Journalize the adjusting entries at January 31 for the outstanding note payable and for salaries and wages expense and payroll tax expense. (Credit account titles are automatically inden ted when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Date Credit Jan. 31 (To record the interest on outstanding notes payable.) Jan. 31 (To record payroll and withholding taxes.) Jan. 31 (To record employer's payroll taxes.) Prepare the current liabilities section of the balance sheet at January 31,2022. Assume no change in Accounts Payable. BLOSSOM COMPANY Balance Sheet (Partial) $ $