Question 2 of 13 -71 View Policies Current Attempt in Progress On January 1, 2022, the ledger of Crane Company contained these liability accounts, Accounts Payable $43,800 Sales Taxes Payable 7.900 Unearned Service Revenue 20,300 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 $7,102, which includes 6% sales taxes. 12 Performed services for customers who had made advance payments of $11,400. (Credit Service Revenue.) 14 Paid state treasurer's department for sales taxes collected in December 2021, $7,900. 20 Sold 630 units of a new product on credit at $50 per unit, plus 6% sales tax. During January, the company's employees eamed wages of $92,000. Withholdings related to these wages were $7,038 for Social Security (FICA). $5.557 for federal income tax, and $1,667 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 Janu y 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, eg. 5,275.) Date Account Titles and Explanation Debit Credit Question 2 of 13 -71 View Policies Current Attempt in Progress On January 1, 2022, the ledger of Crane Company contained these liability accounts, Accounts Payable $43,800 Sales Taxes Payable 7.900 Unearned Service Revenue 20,300 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 $7,102, which includes 6% sales taxes. 12 Performed services for customers who had made advance payments of $11,400. (Credit Service Revenue.) 14 Paid state treasurer's department for sales taxes collected in December 2021, $7,900. 20 Sold 630 units of a new product on credit at $50 per unit, plus 6% sales tax. During January, the company's employees eamed wages of $92,000. Withholdings related to these wages were $7,038 for Social Security (FICA). $5.557 for federal income tax, and $1,667 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 Janu y 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, eg. 5,275.) Date Account Titles and Explanation Debit Credit