Question: Problem 10-1A (Part Level Submission) On January 1, 2017, the ledger of Oriole Company contained these liability accounts Accounts Payable Sales Taxes Payable Unearned Service

of Oriole Company contained these liability accounts Accounts Payable Sales Taxes Payable

Unearned Service Revenue $43,000 6,850 19,500 During January, the following selected transactions

occurred. Borrowed $18,000 in cash from Apex Bank on a 4-month, 596,

Problem 10-1A (Part Level Submission) On January 1, 2017, the ledger of Oriole Company contained these liability accounts Accounts Payable Sales Taxes Payable Unearned Service Revenue $43,000 6,850 19,500 During January, the following selected transactions occurred. Borrowed $18,000 in cash from Apex Bank on a 4-month, 596, $18,000 note. Sold merchandise for cash totaling $5,724, which includes 6% sales taxes. Performed services for customers who had made advance payments of $10,400. (Credit Service Revenue.) Paid state treasurer's department for sales taxes collected in December 2016, $6,850. Sold 550 units of a new product on credit at $45 per unit, plus 6% sales tax. Jan. 1 5 12 14 20 During January, the company's employees earned wages of $73,000. Withholdings related to these wages were $5,585 state income tax. The company owed no money related to these earnings for federal or state unemployment tax. Assum entry had been recorded for wages or payroll tax expense as of January 31. (a) Your answer is correct. Journalize the January transactions. (Credit account titles are automatically indented when amount is entered. D presented in the problem. Round answers to nearest whole dollar amount, e.g. 5,275.) Date Account Titles and Explanation Debit Credit

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