Question 1 of 9 - / 1 View Policies Current Attempt in Progress On January 1, 2022, the ledger of Carla Vista Co. contained these liability accounts. Accounts Payable Sales Taxes Payable Unearned Service Revenue $43,400 7,500 19,900 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 $6,360, which includes 6% sales taxes. 12 Performed services for customers who had made advance payments of $11,200. (Credit Service Revenue.) 14 Paid state treasurer's department for sales taxes collected in December 2021, $7,500. 20 Sold 590 units of a new product on credit at $50 per unit, plus 6% sales tax. During January, the company's employees earned wages of $84,000. Withholdings related to these wages were $6,426 for Social Security (FICA), $5,271 for federal income tax, and $1.581 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 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.) Date Account Titles and Explanation Debit Credit Jan. 1 Cash 18000 Note 18000 Question 1 of 9 - / 1 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.) Date Account Titles and Explanation Debit Credit Jan. 1 V Cash 18000 Note 18000 Jan. 5 Cash 6360 Sales Revenue 6000 Sales Taxes Payable 360 Jan. 12 Unearned Service Revenue 11200 Service Revenue 11200 Jan. 14 Sales Taxes Payable 7500 Cash 7500 Jan. 20 Accounts Receivable Sales Revenue Sales Taxes Payable e Textbook and Media 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.) Date Account Titles and Explanation Debit Credit 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.) e Textbook and Media List of Accounts Question 1 of 9 > - 71 E Prepare the current liabilities section of the balance sheet at January 31, 2022. Assume no change in Accounts Payable. CARLA VISTA CO. Balance Sheet (Partial) $ $ Toutbooks and Media
