On January 1,2025 , the ledger of Sandhill Co. contained these liability accounts. During January, the following selected transactions occurred. Jan. 1 Borrowed $18,000 in cash from Apex Bank ori 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 Revenue) 14. Paid state treasurer's department for sales taxes collected in December 2024, \$8,700. 20 Sold 710 units of a new product on eredit at $54 per unit, plus 5% 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 $1,560 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. (a) Your answer is correct. Journalize the January transactions, Omit cost of goods sold entries. (List all debit entries before credit entries. Credit occount tities are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account tites and enter 0 for the amounts. Record journal entries in the order presented in the problem. Round answers to nearest whole dollar omount. eg. 5,275) Journalize the January transactions. Omit cost of goods sold entries. (List all deblt entries before credit entries Credit occount tities are outomatically indented when amount Is entered. Do not indent manually. If no entry is regulred, select "No Entry" for the cccount tities and enter 0 for the amounts. Record joumal entries in the order presented in the problem. Round answers fo nearest whole dollor ansunt, eg. 5,275. Question 12 of 12 Sales Taxas Payable 1/3; Sales Revenue Sales Taves Payable eTextbook and Media List of Accounts Attempts: 1 of 3 used Journalize the adjusting entries at January 31 for the outstanding note payable and for salaries and wages expense and payroll tax expense. (List all deblt entries before credit entries. Credit account tites are automatically 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.) Question 12 of 12 1/3 (To record payroll and withholding taxes) J. 31 (Torecord employer's payroll tixes) eTextbookand Media List of Accounts 3tivefor bater Attempts: 0 of 3 used Submit Arrwaror (c)
