On January 1, 2025, the ledger of Ivanhoe Company contained these liability accounts. Accounts Payable Sales Taxes Payable Unearned Service Revenue Jan. 1 During January, the following selected transactions occurred. 5 (a) 12 14 20 $42,900 7,000 19,400 Borrowed $18,000 in cash from Apex Bank on a 4-month, 5%, $18,000 note. Sold merchandise for cash totaling $7,420, which includes 6% sales taxes. Performed services for customers who had made advance payments of $10,200. (Credit Service Revenue.) Paid state treasurer's department for sales taxes collected in December 2024, $7,000. Sold 540 units of a new product on credit at $47 per unit, plus 5% sales tax. During January, the company's employees earned wages of $74,000. Withholdings related to these wages were $5,661 for FICA, $5.064 for federal income tax, and $1,519 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. Date Journalize the January transactions. Omit cost of goods sold entries. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter 0 for the amounts. Record journal entries in the order presented in the problem. Round answers to nearest whole dollar amount, eg. 5,275.) Account Titles and Explanation Debit Credit

On January 1, 2025, the ledger of Ivanhoe Company contained these liability accounts. During January, the following selected transactions occurred. Jan. 1 Borrowed $18,000 in cash from Apex Bank on 2 4-month 5\%, $18,000 note 5 Sold merchandise for cash totalling $7.420, which includes 6% sales taxes. 12 Performed services for customers who had made advance payments of $10,200 (Credit Service Revenue) 14 Paid state treasurer's department for sales taxes collected in December 2024,57,000 20 Sold 540 units of a new product on credit at 547 per unit, plus 5% sales tax During January, the company/s employees earned wages of $74,000. Withholdings related to these wages were 55,661 for FICA. \$5.064 for fedcral income tax and $1.519 for state income tax. The company owed no moncy related to these earnings for federal or state uncmployment tax. Assume that wages earned during January will be paid during February. No entry had been recorded for wages or piyroll tax eepense as of Jaruary 31. (a) Journalize the January transactions. Omit cost of poods soid entries. (List alf debit entries before credit entries. Credit account rities are automatically indented when ancunt is entered. Do not indent manually. If no entry is required, select "No Entry" for the account bites and enter ofor the anounts Record journd entrles in the order preiented in the problem. Round answers to nearest whole dollar amount. cos2751 Journalize the January transactions. Omit cost of goods sold entries. (List all debit entries before credit entries. Credit occount titles are outomatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the occount titles and enter O for the amounts. Record journal entries in the order presented in the problem. Round answers to nearest whole dollar amount, ces 5,275 J On January 1, 2025, the ledger of Ivanhoe Company contained these liability accounts. During January, the following selected transactions occurred. Jan. 1 Borrowed $18,000 in cash from Apex Bank on 2 4-month 5\%, $18,000 note 5 Sold merchandise for cash totalling $7.420, which includes 6% sales taxes. 12 Performed services for customers who had made advance payments of $10,200 (Credit Service Revenue) 14 Paid state treasurer's department for sales taxes collected in December 2024,57,000 20 Sold 540 units of a new product on credit at 547 per unit, plus 5% sales tax During January, the company/s employees earned wages of $74,000. Withholdings related to these wages were 55,661 for FICA. \$5.064 for fedcral income tax and $1.519 for state income tax. The company owed no moncy related to these earnings for federal or state uncmployment tax. Assume that wages earned during January will be paid during February. No entry had been recorded for wages or piyroll tax eepense as of Jaruary 31. (a) Journalize the January transactions. Omit cost of poods soid entries. (List alf debit entries before credit entries. Credit account rities are automatically indented when ancunt is entered. Do not indent manually. If no entry is required, select "No Entry" for the account bites and enter ofor the anounts Record journd entrles in the order preiented in the problem. Round answers to nearest whole dollar amount. cos2751 Journalize the January transactions. Omit cost of goods sold entries. (List all debit entries before credit entries. Credit occount titles are outomatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the occount titles and enter O for the amounts. Record journal entries in the order presented in the problem. Round answers to nearest whole dollar amount, ces 5,275 J