Recording Various Liabilities

Glenview Hardware had the following transactions that produced liabilities during 2014:

a. Purchased merchandise on credit for $30,000. (Note: Assume a periodic inventory system.) b. Year-end wages of $10,00 incurred, but not paid. Related income tax of $1,200, and Social Security of $620 (employee portion) and Medicare tax of $145 were withheld, . c. Year-end estimated income taxes payable, but unpaid, for the year in the amount of $42,850. d. Sold merchandise on account for $1,262, including sales tax of $48. (Note: Assume a periodic inventory system.) e. Employer's share of Social Security and Medicare taxes for the period were $620 and $145, respectively. f. Borrowed cash under a 90-day, 9 percent, $25,000 note.