On June $1,$ Lily Company borrows $$90,000$ from First Bank on a $6-$month, $$90,000,8\%$ note.

Prepare the entry on June $1.($Credit account titles are automatically indented when amount is entered. Do not indent

manually.$)$

Date Account Titles and Explanation

Debit

Credit

June $1$

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List of Accounts

Prepare the adjusting entry on June $30.($Credit account titles are automatically indented when amount is entered. Do not

indent manually.$)$

Prepare the entry at maturity $($December $1),$ assuming monthly adjusting entries have been made through November $30.($Credit

These payroll liability accounts are included in the ledger of Sunland Company on January $1,2027.$

In January, the following transactions occurred.

Jan. $10$ Sent check for $$825\mathrm{.}00$ to union treasurer for union dues.

$12$ Remitted check for $$1,965\mathrm{.}00$ to the Federal Reserve bank for FICA taxes and federal income taxes withheld.

$15$ Purchased U$.$S$.$ Savings Bonds for employees by writing check for $$320\mathrm{.}00.$

$17$ Paid state income taxes withheld from employees.

$20$ Paid federal and state unemployment taxes.

$31$ Completed monthly payroll register, which shows salaries and wages $$62,000\mathrm{.}00,$ FICA taxes withheld $$4,743\mathrm{.}00,$

federal income taxes payable $$2,175\mathrm{.}00,$ state income taxes payable $$395\mathrm{.}00,$ union dues payable $$475\mathrm{.}00,$ United

Fund contributions payable $$1,990\mathrm{.}00,$ and net pay $$52,222\mathrm{.}00.$

$31$ Prepared payroll checks for the net pay and distributed checks to employees.

At January $31,$ the company also makes the following accrued adjustments pertaining to employee compensation.

Employer payroll taxes: FICA taxes $7\mathrm{.}65\%,$ federal unemployment taxes $0\mathrm{.}6\%,$ and state unemployment taxes $5\mathrm{.}4\%.$

Vacation pay: $6\%$ of gross earnings.

Journalize the January transactions. $($Round answers to $2$ decimal places, e$.$g$.15\mathrm{.}25.$ Credit account titles are automatically

indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.$)$

Date

Account Titles and Explanation

Debit

Credit