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please help me Problem 10-OLA On January 1, 2022, the ledger of Ivanhoe Company contained these ability accounts Accounts Payable $44,000 Sales Taxes Payable 8,100
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Problem 10-OLA On January 1, 2022, the ledger of Ivanhoe Company contained these ability accounts Accounts Payable $44,000 Sales Taxes Payable 8,100 Unearned Service Revenge 20,500 During January, the following selected transactions occurred. Jan. 1 5 12 14 20 Borrowed $18,000 in cash from Apex Bank on a 4-month, 5%, $18,000 note. Sold merchandise for cash totaling $6,360, which includes 6% sales taxes. Performed services for customers who had made advance payments of $11,000. (Credit Service Revenue) Paid state treasurer's department for sales taxes collected in December 2021, 53,100 Sold 650 units of a new product on credit at $46 per unit, plus 6% sales tax. During January, the company's employees earned wages of $6,000. Withholding related to these mages were $7,344 for Social Security CPICAL $5.00 for federal income tax and 51, 52 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. Journalize the January transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal and In the problem. Round answers to nearest whole dollar amount 0.9. ,275.) Date Account Titles and Explanation Credit CALCULATOR Journalize the adjusting entries at January 31 for the outstanding note payable and for salaries and wages expense and payroll tax expense. (Credit account tities are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Jan. 31 Debit Credit (To record the interest on outstanding notes payable) (To record payroll and withholding taxes.) (To record employer's payroll taxes.) Prepare the current liabilities section of the balance sheet at January 31, 2022. Assume no change in Accounts Payable IVANNOE COMPANY Balance Sheet (Partial LINK TO TEXT LINK TO VIDEO Prepare the current liabilities section of the balance sheet at January 31, 2022. Assume no change in Accounts Payable. IVANHOE COMPANY Balance Sheet (Partial) Click If you would like to show Work for this questioni Open Show Work SHOW LIST OF ACCOUNTS Step by Step Solution
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