Problem 10-01 On January 1, 2022, the edge of Criole Company continued these labiry accounts Accounts Payable $47.000 Sales Taxes Payable 7.100 Uneared Service Revenue 19.500 During January, the following selected transactions occurred Jan. 1 Borrowed 518,000 cash from Apex Bank on a month, $18,000 Sold merchands for totaing 15.724, which includes 12 Performed services for customers who had made advance payments of $10,490. (Credit Service Reven) 14 Paide treure department for sales taxes collected in December 2021, $7,100 20 Sold 550 units of a w product on credit ut $45 per unit plus sales tax During January, the company's employees and wages of $76,000. Wholdings related to these wages were $5,814 for Social Security (FICA 55,214 for Tederal income tax, and $1,564 for state income tax. The company owed no money related to these earnings for federal or state employment assume that wages ned during January will be paid during February. No entry had been recorded for wages or payroll tax expenses of Juary 31. Journal the January transactions. (Credit account titles are automatically indented when amount is entered. Do not indet manually. Record journal entries in the order presented in the weblom Mound answers to nearest whole dollar amount, .g. 5,275) Date Accounts and planation Debt Credit an. 1 Cash 18.000 Notes Payable 18.000 Jan. sv cash 5.724 Sales Revenue Sales Taxes Payable Zoumaise the adjusting entries at Sanuary 31 for the outstanding note payable and for salaries and wages expense and payroll tax expense (Credit account titles are surtomatically indented when amount is entered. Do not indent many) Date Account Titles and Explanation De Credit (To record the interest on outstanding notes pay) Jan. 3 (To record payroll and holding taxes) Jan. 31 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. ORIOLE COMPANY Balance Sheet (Partial) V V Problem 10-01A O Banuary 1, 2023, the lege of Oriol Company contained these babait accounts Accounts Payable 143,000 Sales To Payable Untamed Service Revenue 19,500 Dusing oury, the following selected transactions curred Jan 1 Borrowed $10,000 homex Bank on a month, 5, $18,000 note Selmerdance for cash 5.24, which cutes les taxes 12 Performed services for customers who had made dece payments of $10,400. (Credit Service Revenue) 14 Daid state traser's perforated in December 2021. 17,100 20 Sold 550 units of a ww product on credt 545 per it, plus 6% sales to During lawy, the company's employees and was 76,000 worted to wawe Social Security CPICAL,316 recome tax, and for me ta. The company one monty ated to the coming for federstorbenemployment me that wages earned during Mary will be paid during February No entry had been recorded for wages or payroll to express of Banuary 31 Journal Juarytations. (Credit counties are automatically indented when amount is entered. De net inden maly. Record journal entries in the arder presented in the problem and answers to nearest whole caram 3,275.) A Tidlanation Cret