On January 1,2025 , the ledger of Wildhorse Co. contained these liability accounts. During January, the following selected transaction soccurred. Jan. 1 Borrowed $18,000 in cash from Apex Bank on a 4-month, 5\%, $18,000 note. 5 Sold merchandise for cash totaling $5,512, which includes 6% sales taxes. 12 Performed services for customers who had made advance payments of $13,000. (Credit Service Revenue.) 14 Paid state treasurer's department for sales taxes collected in December 2024,$8,800. 20 Sold 720 units of a new product on credit at $49 per unit, plus 5% sales tax. During January, the company's employees earned wages of $58,000. Withholdings related to these wages were $4,437 for FICA, $4,200 for federal income tax, and \$1,614 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. WILDHORSE CO. Balance Sheet (Partial) $