part B: balance Sheet using chart above

View Policies Current Attempt in Progress On January 1, 2022. Cullumber Company's accounting records contained these liability accounts. Accounts Payable Sales Taxes Payable Unearned Service Revenue $43.900 8.000 20,400 During January, the following selected transactions occurred. Jan. 1 Borrowed $18,000 in cash from Apex Bank on a 4-month, 5%, $18,000 note. Sold merchandise for cash totaling $6,572, which includes 6% sales taxes, Performed services for customers who had made advance payments of $12,000. (Record Service Revenue.) Paid state treasurer's department for sales taxes collected in December 2021. $8,000 20 Sold 640 units of a new product on credit at $50 per unit, plus 6% sales tax 5 12 14 During January, the company's employees earned wages of $76,800. Withholdings related to these wages were $5,875 for FICA, $5,486 for federal income tax, and $1,646 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. Wages or payroll tax expense have not been recorded as of January 31 Prepare a tabular summary to record the January transactions and the adjustments on January 31 for the outstanding note payable and the salaries and wages expense and payroll tax expense. Include margin explanations for the changes in revenues and expenses. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced. Round answers to decimal places, eg. 5.275.) Assets Acc Cash Accts. Rec Notes Pay. $ Bal. $ Jan 1 Jan. 5 Jan. 12 Jan. 14 Jan. 20 Adj. Jan. 31 Jan. 31 Jan. 31 Bal Prepare a tabular summary to record the January transactions and the adjustments on January 31 for the outstanding note payable and the salaries and wages expense and payroll tax expense. Include margin explanations for the changes in revenues and expenses. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign for parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced. Round answers to decimal places, eg. 5,275) + + Acct. Pay Sales Taxes Pay. Salaries & Wages Pay. Unearned Serv. Rev. $ $ $ and expenses. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign for parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced. Round answers to decimal places, eg. 5,275.) Interest Pay + FICA Taxes Pay. Fed. Inc. Taxes Pay + St. Inc. Taxes Pay $ $ e Textbook and Media I! Question 6 of 6 > > > Payroll tax expense Interest expense Salaries & wages expense Sales revenue Service revenue e Textbook and Media