Problem 10-1A On January 1, 2014, the ledger of Hiatt Company contained these liability accounts. Accounts Payable Sales Taxes Payable Unearned Service Revenue $47,460 7,061 32,800 During January, the following selected transactions occurred Jan. 1 Borrowed $17,280 in cash from Premier Bank on a 4-month, 5%, $17,280 note 12 14 20 Sold merchandise for cash totaling $6,042, which includes 6% sales taxes Performed services for customers who had made advance payments of $23,656. (Credit Service Revenue.) Paid state treasurer's department for sales taxes collected in December 2013, $7,061 Sold 600 units of a new product on credit at $54 per unit, plus 6% sales tax. During January, the company's employees earned wages of $76,230. Withholdings related to these wages were $5,832 for Social Security (FICA), $5,445 for federal income tax, and $1,634 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