On January 1,2022, the ledeer of Sheridan Company contained these liability accounts. Accounts Payable $43,200 Sales Taxes Payable 7,300 Unearned Service Revenue 19,700 During January, the following salectod transactions accurred. Barrownd $18000 In cash from Apcx Bank an a 4-month, S%, $18,000 notc. Jan 1 5 Sald merchandise for cash tataling $5,936, which includes 6% sales taxes 12 Performed services for customers who had made advance payments of $10,300 ICredit Service Revenue) 14 Pald state treasurer's department for sales taxns collected In December 2021, $7.300 Sald 570 units of a new product on credit at $52 per unit, plus S% sales tax 20 During January, the company's amplayees carmed wages of $80,co0. withholdings related to these wages wore $6,120 for Sadal Security (FICA). $5,629 for tederal income tax, and $1,68 9 tor state income tax. The campany owed no money related to these eamings for tederal ar state unemplayment tax. Assume that wages carned during January will be pald during February, No entry had boon recorded tor wages or payroll tax opense as of January 31. Journalize the January transactions (Credit account thies are automationily indented whan amount is entered. Do not indant manualy Record jaurnal entries in the order presented in the probiem. Round answers to nearest whale dollar amount, eg. 5,275 Account Titles and Explanation Date 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 indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Date 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. SHERIDAN COMPANY Balance Sheet (Partial) $ $