On January 1, 2022, the ledger of Pharoah Company contained these liability accounts. Accounts Payable Sales Taxes Payable Unearned Service Revenue $44,200 8,300 20,700 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 $6,678, which includes 6% sales taxes. Performed services for customers who had made advance payments of $12,100. (Credit Service 12 Revenue.) 14 Paid state treasurer's department for sales taxes collected in December 2021, $8,300. 20 Sold 670 units of a new product on credit at $55 per unit, plus 6% sales tax. During January, the company's employees earned wages of $68,000. Withholdings related to these wages were $5,202 for Social Security (FICA), $5,093 for federal income tax, and $1,528 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. (c ) Prepare the current liabilities section of the balance sheet at January 31, 2022. Assume no change in Accounts Payable. PHAROAH COMPANY Balance Sheet (Partial) $ e Textbook and Media List of Accounts