On January 1, 2022, the ledger of Sheridan Company contained these liability accounts. Accounts Payable Sales Taxes Payable $56,100 7,320 Unearned Service Revenue 15,800 During January, the following selected transactions occurred. Jan. 1 5 Borrowed $22,800 in cash from Apex Bank on a 4-month, 5%, $22,800 note. Interest will be paid at maturity. Sold merchandise for cash totaling $5,830, which includes 6% sales taxes. 12 Performed services for customers who had made advance payments of $10,000. (Credit Service Revenue.) 14 Paid state treasurer's department for sales taxes collected in December 2021, $7,320. 20 Sold 800 units of a new product on credit at $48 per unit, plus 6% sales tax. During January, the company's employees earned wages of $60,000. Withholdings related to these wages were $4,590 for FICA, $4,300 for federal income tax, and $1,300 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.