Problem 10-1A (Part Level Submission) On January 1, 2017, the ledger of Ivanhoe Company contained these liability accounts. $44,000 7,350 20,500 Accounts Payable Sales Taxes Payable Unearned Service Revenue During January, the following selected transactions occurred Jan. 1 Borrowed S 18,000 in cash from Apex Bank on a 4-month, 5%, $18,000 note. Sold merchandise for cash totaling $6,360, which includes 6% sales taxes. Performed services for customers who had made advance payments of $11,000. (Credit Service Revenue.) Paid state treasurer's department for sales taxes collected in December 2016, $7,350. Sold 650 units of a new product on credit at $46 per unit, plus 69% sales tax. 12 14 20 During January, the company's employees eamed wages of $71,200. Withhaldings related to these wages were s5,447 for Soclal Security (FICA), $5,086 for federal Income tax, and $1,526 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. Jan. 1Cash 18000 Notes Payable 18000 Jan. 5 Cash 7102 Sales Revenue 6700 Sales Taxes Payable 402 Jan. 12 Unearned Service Revenue 11400 Service Revenue 11400 Jan. 14 Sales Taxes Payable 7250 Cash 7250 33390 Jan. 20Accounts Receivable Sales Revenue 31500 Sales Taxes Payable 1890