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On January 1, 2025, the ledger of Sandhill Co, contained these liability accounts. During January, the following selected transactions octurred. lan 1 Borrowed $18,000 in
On January 1, 2025, the ledger of Sandhill Co, contained these liability accounts. During January, the following selected transactions octurred. lan 1 Borrowed $18,000 in cash from Apex Bank on a 4 -month, 5%,$18,000 note. 5 Sold merchandise for cash totaling $6,360, which includes 6% sales taxes. 12 Performed services for customers who had made advance payments of $13,600. (Credit Service Revenuie.l 14 Paid state treasurer's department for sales taxes collected in December 2024, 58,700. 20 Sold 710 units of a new product on credit at $54 per unit. plus 5% sales tax. During January, the company's employees earned wikges of $60.000. Withholdings related to these wiges were $4.590 for FiCA, $4,300 for federal income tax, and $1,560 for state income tax. The comparry owed no moncy 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 tecorded for wages or payroll tax expense as of January 31 . (a) Journalize the January transactions. Omit cost of goods sold entries. (i.ist all debit entries before credit entriec Credit occount tiles are automoticolly indented when amount is entered. Do not indent monuolly. If no entry is required, select " No Entry" for the account titles and enter O for the amounts. Record journal entries in the order presented in the problem. Round answers to nearest whole dollar cmount. e.s. 5.275.) (b) The parts of this question must be completed in order. This part will be available when you complete the part sbove
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