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Question 2 of 11 View Policies < > Current Attempt in Progress On January 1.2022, the ledger of Blossom Company contained these liability accounts
Question 2 of 11 View Policies < > Current Attempt in Progress On January 1.2022, the ledger of Blossom Company contained these liability accounts Accounts Payable $44,800 Sales Taxes Payable 8.900 Unearned Service Revenue 21,300 -/1 1 During January, the following selected transactions occurred Borrowed $18,000 in cash from Apex Bank on a 4-month 5%, $18.000 note Sold merchandise for cash totaling $6,466, which includes 6% sales taxes Performed services for customers who had made advance payments of $13,800. (Credit Service Revenue) Jan. 1 5 12 14 20 Sold 730 units of a new product on credit at $45 per unit, plus 6% sales tax Paid state treasurer's department for sales taxes collected in December 2021. $8,900. During January, the company's employees earned wages of $56,000 Withholdings related to these wages were $4.284 for Social Security (FICA), $5.593 for federal income tax, and $1,678 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.
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