Problem 8-1 On January 1, 2017, Sunland Company's accounting records contained these liability accounts.

Accounts Payable $44,400

Sales Taxes Payable 7,550

Unearned Service Revenue 20,900 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 $5,724, which includes 6% sales taxes.

12 Performed services for customers who had made advance payments of $11,700. (Record Service Revenue.)

14 Paid state treasurers department for sales taxes collected in December 2016, $7,550.

20 Sold 690 units of a new product on credit at $46 per unit, plus 6% sales tax.

During January, the companys employees earned wages of $78,600. Withholdings related to these wages were $6,013 for Social Security (FICA), $5,614 for federal income tax, and $1,684 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. Wages or payroll tax expense have not been recorded as of January 31.

iabiles stodholdess tquhy Assets Pan Btned Eunnu. st. Inr. Tawes Salarles & Wanse. F. ne. TMe uearned serv Sales TNwe ICA Taxn tate inemp Tax Acct, Ree Nates Pay. Raanu Act, Par Intarmat Pav Cxpenm Dividend PY 1.102 5724 Seles reeerue erdze enua 1.70 .700 . saes rera Enterast a ram -75 5,0 52 ytx capers , 2 202 .402 Your answer partially correct. Try again. Prepare the current liabilities section of the balance sheet at January 31, 2017. Assume no change in Accounts Payable. (Round answers to 0 decimal places, e.g. 5,275.) SUNLAND COMPANY Balance Sheet (Partlal) January 31, 2017 Current Liabilities 18,000 Notes Payable 44,400 Accounts Payable Salaries and Wages Payable 65,289 FICA Taxes Payable 12026 Unearned Service Revenue 32600 5614 Federal Income Taxes Payable 1904 Sales Taxes Payable 2008 State Income Taxes Payable 75 Interest Payable 181916 Total Current Liabilities