Problem 10-1A (Part Level Submission) On January 1, 2017, the ledger of Crane Company contained these liability accounts $44,900 7,800 21,400 Accounts Payable Sales Taxes Payable Unearned Service Revenue 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. 5 Sold merchandise for cash totaling $5,406, which includes 6% sales taxes. 12 Performed services for customers who had made advance payments of $13,600. (Credit Service Revenue.) 14 Paid state treasurer's department for sales taxes collected in December 2016, $7,800 20 Sold 740 units of a new product on credit at $49 per unit, plus 6% sales tax. 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 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 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 Credit Date Account Titles and Explanation Debit Jan. 31 Interest Expense Interest Payable (To record the interest on outstanding notes payable.) Jan. 31 Salaries and Wages Expense ederal Income Taxes Payable State Income Taxes Payable Salaries and Wages Payable (To record payroll and withholding taxes.) Jan. 31 (To record employer's payroll taxes.)