You are the accountant for Security Software. The month just ended 1/31/2002.
Create journal entries for the following:
11. During the month software sales were 50,000, all on account, and sales tax is 8.5%
in addition to that amount. Describe the above with a journal entry:
	Account			Debit	Credit
12. On Feb 15th you send this sales tax from number 11 to the state. Make the Journal
	Account			Debit	Credit
13. Customers also were invoiced $12,000 for 1 year maintenance contracts. Describe the
transaction. (there is no sales tax on this)
	Account			Debit	Credit
14. The month's payroll, paid on 1/31 needs to be recorded. Total payroll is $20,000
4,000 is withheld for federal taxes, 1,000 for state taxes, and 7.65% is withheld for FICA tax.
	Account			Debit	Credit
15. On 10/31/2011 The company takes out a $120,000 bank loan and signs a 4 year note at 8% interest
paid every 3 months.			Make Journals for the following
		a. 10/31/2011 - record the loan
		b. 12/31/2011 - year end needs to have everything accurate including interest liabilities
		c 1/31/2012 - it has been 3 months
Date	Account			Debit	Credit