Part c required

On January 1, 2017, the ledger of Riverbed Ltd. contains the following liability accounts. Accounts Payable 53,750 Sales Taxes Payable 6,560 Unearned Service Revenue 16,790 During January, the following selected transactions occurred. Jan. 5 Sold merchandise for cash totaling 22,470, which includes 7% sales taxes. 12 Performed services for customers who had made advance payments of 11,000. (Credit Service Revenue.) 14 Paid revenue department for sales taxes collected in December 2016 (6,560). 20 Sold 600 units of a new product on credit at 52 per unit, plus 7% sales tax. 21 Borrowed 22,500 from DeKalb Bank on a 3-month, 6%, 22,500 note. Sold merchandise for cash totaling 10,355, which includes 7% sales taxes. 25 your answer is correct. Journalize the January transactions. (Round answers to 0 decimal places, e.g. 125. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 57 Cash 22470 Sales Revenue 21000 Sales Taxes Payable 1470 Jan. 12 Unearned Service Revenue 11000 Service Revenue 11000 M Jan. 14 7 Sales Taxes Payable 6560 Cash 6560 Jan. 20 Accounts Receivable 33384 Sales Revenue 31200 Sales Taxes Payable 2184 Jan. 21 V cash 22500 Notes Payable 22500 Jan. 25 V Cash 10355 Sales Revenue 9678 Sales Taxes Payable 677 (b) Your answer is correct. Journalize the adjusting entries at January 31 for the outstanding notes payable. (Hint: Use one-third of a month for the DeKalb Bank note.) (Round answers to o decimal places, e.g. 125. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Debit Credit Date Account Titles and Explanation Jan. 31 Interest Expense 38 Interest Payable 38 (c) Prepare the current liabilities section of the statement of financial position at January 31, 2017. Assume no change in accounts payable. RIVERBED LTD. Statement of Financial Position For the Year Ended January 31, 2017 By accessing this Question Assistance, you will learn while you earn points based on the Point Potential Policy set by your instructor