Problem 10-1A On January 1, 2017, the ledger of wildhorse Co. contained these liability accounts. Accounts Payable $44,700 7,700 Sales Taxes Payable Uneamed Service Revenue 21.200 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. 12 Performed services for customers who had made advance payments of $13,000. (Credit Service Revenue.) Paid state treasurer's department for sales taxes collected in December 2016, 57,700. Sold 720 units of a new product on credit at $49 per unit, plus 6 % sales tax 14 20 During January, the company's employees earned wages of $75,300. Withholdings related to these wages were $5,760 for Social Security (FICA), $5,379 for federal income tax, and $1,614 for state income tax. The company owed no money relatedt of January 31 these eamings for federal or state unemployment tax. Assume that wages eamed during January will be pald during February. No entry had been recorded for wages or payroll tax expense Journalize the January transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. Round answers to nearest whole dollar amount, e.g. 5,275.) Account Titles and Explanation Debit Credit Date Journalize the adjusting entries at January 31 for the outstanding note payable and for salaries and wages expense and payroll tax expense. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debi Credit Date Jan. 31 (To record the interest on outstanding notes payable.) Jan. 31 (To record payroll and withholding taxes.) Jan. 31 (To record employer's payroll taxes.) Prepare the current liabilities section of the balance sheet at January 31, 2017. Assume no change in Accounts Payable WILDHORSE CO. Balance Sheet (Partial)